Record price for Hull industrial units at auction

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A Sheffield auction has achieved a record individual lot price for industrial units in Hull, as the property market boom continues.

For the second time in a row, sales surpassed the £5m mark at the monthly online auction held by Mark Jenkinson and Son. The record-breaking sale was Kingston Way Factory Estate, a commercial lot of 12 industrial units, which sold on behalf of Hull City Council for £1,362,000, well above its £950,000 estimate. The winning bid was £2,000 above the previous individual lot record for a Mark Jenkinson & Son auction set in 2015.

The current market climate say several properties sold well above their estimates. Adrian Little, Head of the auction department at Mark Jenkinson and Son, said: “Despite the difficulties presented by Covid-19, the auction market has remained incredibly busy. The online approach has proved extremely popular as buyers recognise the convenience of being able to safely bid from their homes or on the move rather than being in large group of people at Bramall Lane, which of course is just not an option at present.”