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Eddisons Delivers Record Auction Results

Written by: Rob Limbert on Monday 02/03/2015

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Eddisons says that its recent Leeds auction was its ‘most successful ever’.

In total the firm sold 95% of the lots which went under the hammer at Elland Road stadium, generating proceeds of over £3.3m.

Robert Limbert, Associate Director and Auctioneer said: ‘In terms of number of lots sold this was the most successful auction we have ever staged and quite possibly the best auction of all time in the Yorkshire region.

‘The room was packed and a real feel good factor was apparent amongst buyers who bid enthusiastically for lots in all categories, ensuring most exceeded their advertised guide price.’

Highlights included the former Lawnswood School caretaker’s house on Spen Road in Leeds which sold for £200,000. The three bed property had been offered on the instructions of Leeds City Council at a guide of £150,000 plus.

Yorkshire Water also disposed of various sites across the region. These included a vacant 2.6 acre site in Foxholes, between Scarborough and Beverley which sold for £20,500, off a guide of just £4,000 plus.

Meanwhile, a 0.18 acre site opposite Ripon Racecourse achieved £48,000, off a guide of £20,000 plus. Elsewhere,, a freehold woodland site opposite Silsden Reservoir near Keighley, extending to 12.5 acres, sold for £45,500 off a guide of £15,000 plus.

In the Allerton area of Bradford the former Bell Dean pub sold for £122,000 off a guide of £90,000 plus. The property had previously been unsuccessfully marketed for sale by private treaty at £95,000

Overall proceeds for the three day February auction which also included dates in Manchester and London, as well as Leeds, stand at 84% success and over £5.2m raised.

Highlights of the London sale included a freehold bar and restaurant investment in Reading which sold for £760,000. The property is let until 2042 and produces annual income of £60,000. It had been offered on the instructions of the Joint LPA Receivers at a guide price of £450,000 to £500,000.

A freehold retail and residential close to Leicester city centre also proved popular. The property on Sparkenhoe Street currently produces income of £15,000 per annum and sold for £160,000. The guide price was £120,000 plus.

At the Manchester sale a tenanted two bedroom flat in Warrington, producing ££7,560 per annum, sold for £93,500. The guide was £75,000 plus.

Eddisons is now inviting instructions for its next three day sale. This takes place in London on 8 April, Manchester on 14 April and Leeds on 16 April. The catalogue closes on 12 March.

Written by: Rob Limbert on Monday 02/03/2015

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About the author

Robert joined Eddisons' property auctions team in 2004 as a senior surveyor and is now a Director and Auctioneer based in the Leeds office. The property auction division organises around 15 auctions a year in Leeds and Manchester and sold £30m of property at auctions in 2015. Previously, Rob worked for Ashtenne Industrial Fund and has more than 17 years’ experience in property.

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