Date
Sector
Investment

May Auction Results

 

Proceeds of nearly £6m (£5,968,000) have been generated at the latest Eddisons property auction.

The firm reported that 67 (73%) of the 92 lots at the two day sale in Leeds and Manchester sold, with a number of lots exceeding their original guide prices.

Tony Webber of Eddisons said: This was an excellent sale with a real cross section of lots selling.

‘Buyers were prepared to spend that little bit more on stock which they felt offered greater potential for realistic returns in the short, medium and long term, compared to traditional investments and pension funds.’

Highlights included two residential investment properties in Bradford and Newcastle-under-Lyme.

Merchant’s Court inBradford City Centre contains 17 one and two bedroom apartments generating £99,960 per annum. The property was bought by a London based investor for £891,000 off a guide price of £890 to 920,000.

Meanwhile, a portfolio of eleven tenanted apartments inNewcastle-under- Lyme was sold for £801,000 off a guide price of £740,000.

Elsewhere, an industrial unit with offices and yard on the Knowsley Business Park in Liverpool which had been offered at a guide price of £150,000 plus sold for £180,000.

In Leeds, the City Council disposed of a surplus Highways depot.

The vacant building on the corner of Tong Road and Windmill Gate in the Upper Wortley area of Leeds sold for £208,000 off a guide price of £120,000 plus.

Residential stock included a property on Allerton Grove, off Street Lane in North Leeds, which sold for £170,000.

The vacant three bedroom semi had been offered by order of the Power of Attorney at a guide price of £150,000 plus.

Similarly, five residential properties in Blackpool also proved popular.

These included two part let semi detached houses, each arranged as six flats, on Tudor Place to the south of the town centre, which sold for £150 and 151,000 respectively.

The next two day sales takes place in Leeds on June 14 and in Manchester on June 19, starting at 12.30pm.

 

Written by: Richard Roe on Friday 18/05/2012