Rise in investor confidence helps auction generate £8.2m

INCREASING investor confidence contributed to more than £8.2m being generated at a recent auction of properties throughout the region.

Auctioneer Eddisons said that 110 of the 159 lots which came under the hammer at its recent sale in Leeds and Manchester were sold.

It said sales on 11 more properties have been agreed since the auction, indicating ever increasing confidence from investors.

Tony Webber of Eddisons said: “This was an exceptionally strong performance in what is normally a quiet period, as peoples’ attention turns to holidays. 
 
“It was also our second auction in a very short period of time which has meant large volumes of stock has come to market quickly. However buyers were undeterred and responded favourably to the realistic pricing.”

Among the lots was a former lap dancing club in Huddersfield which sold for £203,000 off a guide price of £150,000.

In Leeds city centre a parcel of land at Canal Wharfe which is occupied as a car park for four cars, generating annual rent of £10,000, sold for £105,000, a return of 9.5%.                                                                      

Three separate commercial/residential properties on Abbeydale Road in Sheffield raised more than £600,000.                                         

Residential stock included a vacant three bedroom detached house off Gledhow Valley Road in Leeds, owned by Leeds City Council.

The property which was described as being in need of renovation, sold for £191,000 off a guide price of around £140,000.