Bidding ramps up price of Northern Quarter block

A VACANT former office building in Manchester’s Northern Quarter has been sold for more than three times the guide price following a bidding war.

The four-storey property at 33 Turner Street was offered at £175,000 at Eddison’s auction this week but sold for £605,000.
 
Meanwhile, a tenanted commercial property on Prescot Road, Liverpool, which produces income of £10,938 a year, sold for £230,000.

At the sale at The Premier Inn, Trafford Park, Eddisons sold 20 of the 30 lots  generating proceeds of £2.7m.

Tony Webber of Eddisons said: “This was an excellent start to our 2014 auction campaign and continues the trend we saw towards the end of last year. Every sale room was packed to the rafters and it was a case of standing room only.        

“Demand was high for lots in all categories which meant that the bidding was competitive. This helped drive prices up and reflected the positive market sentiment.”