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June Auction Results

Written by: Richard Roe on Tuesday 26/06/2012

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Eddisons reported that 99 (73%) of the 135 lots offered at their latest two day sale were sold, generating proceeds of nearly £8m (£7,926,050).

Tony Webber of Eddisons said: ‘This was an excellent performance with investors responding positively to the realistic guide prices and in many cases bidding on multiple lots.

‘Buyers were out in force which clearly demonstrated that property remains preferable to more traditional forms of investment.’    

Highlights included a portfolio of seven tenanted apartments in the Aigburth area of Liverpool which sold for £520,000 off a guide price of £400,000 plus.

Travellers Court, a purpose built development of 14 apartments, produces annual income of £52,500.

Meanwhile in Lancaster a purpose built block of 12 one bedroom apartments generating income of £24,082, sold for £475,000 off a guide price of £375,000 plus.

In Leeds, a mixed tenanted retail and residential property on Roundhay Road sold for £303,000 off a guide price of £280,000 plus.

In the same location, a property comprising two retail units and a self contained flat, offered at a guide price of £175,000 plus, sold for £211,000. 

Elsewhere, a former Stoke pottery, including a Grade II listed bottle kiln, which had a guide price of £25 to 50,000, sold for £125,000. 

Other lots attracting interest included a fishing lake and woodland extending to nearly 6 acres in Horbury, near Wakefield.

The lake and land off Charles Street which had a guide price of just £10,000 plus sold for £48,500, having been previously marketed for sale by private treaty at £35,000.

Residential stock included a vacant four storey property in the Armley area of Leeds and a sea front cottage in Tynemouth.

The house on Aviary Road, Leeds which is arranged as three separate dwellings sold for £109,000 off a guide of £75,000 plus, despite being in need of total renovation.

Pier Cottage, on Pier Road in Tynemouth, sold for £236,000 off a guide price of £175,000 plus.     

The detached cottage which has two bedrooms, an entrance hall, lounge and dining kitchen was offered with planning permission to extend.

It is located just 100 meters from Tynemouth Sailing Club, the castle and priory and the seafront.

The next sale takes place on July 19 at Leeds United Football Club and on July 24 at the Premier Inn, Trafford Park, Manchester, starting at 12.30pm.

Written by: Richard Roe on Tuesday 26/06/2012

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About the author

Richard joined Eddisons in 2003 and has been the Managing Partner since 2012, a role that sees him lead the strategic direction and development of the business under the ownership of Begbies Traynor Group plc. Richard has been instrumental in the growth of the business which has seen turnover more than double since 2008.

In addition to his role as Managing Partner, Richard continues to play a vital role with key clients, particularly in the banking sector, where he is a trusted adviser to major high street clearing banks. Over the last eight years, Richard has been appointed LPA Receiver on many high profile properties and assists in the recovery of distressed loan portfolios.

Prior to joining Eddisons, Richard worked in the real estate division of a 'Big Four' firm where his notable assignments included the privatisation of Saudi Telecom for flotation on the New York Stock Exchange.

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