Final 2011 Auction Results

Monday, January 02, 2012

Eddisons reported that 106 (72%) of the 147 lots at their recent two day sale in Leeds and Manchester sold, generating proceeds of over £8.2m.

Tony Webber of Eddisons said: ‘This was a very strong performance to end the year in which our 8 two day auctions have generated total proceeds of just under £67m.

‘Despite the financial gloom and doom buyers were out in force and showed a willingness to spend on a range of stock which they perceived as offering good value for money or which gave a healthy return on investment.’

Among the highlights was a parade of tenanted shops, flats and garages in Bramley, near Leeds.

The units on Henconner Lane which generate annual income of £43,682 sold for £407,000 off a guide price of £330 – 350,000, a return of 10.7%.

In Hull a portfolio of eight part tenanted apartments sold for £385,000 off a guide price of £380,000 plus.

The combination of one and two bedroom apartments currently generate annual income of £21,000 with the potential for this to increase to £40,000 when fully let.

Meanwhile, a double fronted retail sales unit extending to around 2,744 sq ft in Gorton, near Manchester sold for £87,000 off a guide price of £60,000 plus.

Interest was also high in a vacant two storey semi detached house in the Basford area of Stoke on Trent.

The property which has been converted into four flats sold for £116,000 off a guide price of £70,000 plus.

Other residential stock included a high yielding property in Burnley. The tenanted two bedroom property generates annual income of £4,419 and sold for £26,000, a return of 17%.

And finally the site of a former Roman fort in York, which is now used as a parcel of grazing land, sold for £15,000.

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