Date
Sector
Investment

Eddisons Leeds Auction Generates £3m

 

Auctioneer Eddisons sold 29 (78.4%) of the 37 lots at its latest Leeds auction, generating proceeds of nearly £3M.

Robert Limbert Associate Director and Auctioneer at Eddisons said: ‘There was good bidding across all categories, with very little escaping the interest of investors and developers.’

Among the highlights was Ye Olde Flying Horse, a former public house in the village of Kegworth, near Derby, which sold for £319,000.

Meanwhile, Virginia Cottage, a vacant five bedroom property
arranged for multiple occupancy in the Roundhay area of Leeds, sold for £175,000 off a guide of £150,000 plus. It has previously generated annual rental income of £18,600.

A tenanted residential property in Harehills incorporating a two bedroom house and a self-contained studio flat producing £9,000 per annum achieved £65,000, a gross return of nearly 14%.

Residential development opportunities included a vacant parcel of land at The Blossoms in Methley with planning for a three storey, four bedroom townhouse, which sold for £50,000. In Bradford, 0.10 acre site with planning for two detached houses achieved £85,000.

Elsewhere, a strip of land extending to 0.75 acres in Northallerton sold for £115,000.
The land at Hailstone Moor, two miles west of the town, has previously had planning permission for a leisure plot and as a residential site for a single travelling family.

A number of lots sold prior to the sale including a former Methodist Chapel on Doncaster Road in Ferrybridge, dating from around 1878.

Eddisons is now inviting instructions for its next Leeds auction taking place on 21 May.

 

Written by: Rob Limbert on Friday 24/04/2015