Date
Sector
Investment

July Property Auction Results

 

Eddisons sold 63% of the lots offered at its latest two day sale in Leeds and Manchester generating proceeds of over £4m.

Among the highlights were two commercial units on Suffolk Road, close to Sheffield Hallam University, extending to 5,190 sq ft, which sold for £260,000 off a guide price of £200,000. They had previously been on the market for sale by private treaty.

Meanwhile, Minerva House, a vacant purpose built office building extending to 33,190 sq ft, plus a modern industrial unit of 4,555 sq ft on Pendlebury Road in Swinton, sold for £250,000.

Elsewhere, a part let property in Blackpool comprising two ground floor retail units, with three flats above, producing £19,240 per annum sold for £122,000, a return of over 15%. The guide price was £95,000 plus.

In nearby Lytham St Annes a fully let property containing a ground floor retail unit and a five bedroom apartment above which generates annual income of £15,400, sold for £150,000.

Among the other successful lots was the site of the former Border Park Services in Byrness village within the Northumberland National Park which sold for £77,000 off a guide of £40,000 plus.

The site has lapsed planning consent for the development of a shop/restaurant and 12 log cabins.

Residential stock included a vacant apartment close to the site of the new Leeds Arena.

The two bedroom, two bathroom apartment at Aspect 14 on Elmwood Lane, sold for £93,500 off a guide price of £70,000 plus.

And a part let property on Bute Avenue in Blackpoo lwhich is arranged as three separate flats, currently generating annual income of £10,920, sold for £93,000. The guide price was £70,000 plus.

The next auctions take place in Manchester on 11 September, in Leeds on 13 September and London on 21 November.

 

Written by: Richard Roe on Friday 27/07/2012