Property briefs: Seddon Developments; Sutton Kersh; Smith & Sons
SEDDON Developments has submitted a detailed planning application for 42,000 sq ft of industrial accommodation at Matrix Point in Buckshaw Village, Chorley.
It is proposing to speculatively develop 21 starter units, between 775-5,400 sq ft, available on a freehold or leasehold basis.
Construction is due to start in the Spring subject to planning permission. A further 1.75-acre plot could accommodate a single unit up to 30,000 sq ft.
JLL is acting as joint agent alongside Bailey Deakin & Hamiltons.
Director Dan Burn said: “Up to now, the talk surrounding the return of speculative development in the North West has focused on the big box distribution market, however Seddon has recognised the strong demand for smaller industrial space – particularly for accommodation on a freehold basis.
“Four of the seven 3,600 sq ft units are already under offer and there’s been very strong interest in a number of the smaller units, demonstrating the significant appetite and pent up demand for accommodation of this size.”
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MERSEYSIDE auctioneer Sutton Kersh raised £40m during auctions in 2014.
At its final sale of the year the firm sold 83% of the lots offered and generated proceeds of over £6.6m.
Auction manageress, Cathy Holt said: “This has been another highly successful year in which we have consistently attracted large attendances and delivered strong results on behalf of our customers. It is the ninth consecutive time we have outperformed the competition and finished the year as Merseyside’s leading auction firm.”
Highlights at the final sale included a fire damaged vacant residential property in the Fairfield area of Liverpool which sold for £130,500 – £90,500 above the advertised guide of just £40,000 plus. The property on Conwy Drive comprises a purpose built block arranged as eight studio apartments, requiring a refurb.
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SMITH and Sons’ last auction of 2014 has secured sales worth more than £1.3m.
Of the 24 lots offered 17 were sold. The auction house said the most popular properties included those in need of refurbishment.
A three-bed house in Well Lane, Tranmere, sold for £72,000 against an initial guide of £45,000-£50,000, with refurbishment projects in Birkenhead and Wallasey also proving popular.
Auctioneer Chris Johnson said: “This was a really busy auction that was well attended by both local investors and those from outside the area. With the market undoubtedly picking up, it is properties that can be developed and improved that command the most interest and the most competitive bidding.”
The next Smith and Sons sale will be held on February 25 with a closing date for entries of 23 January.
