Leeds property news: Busy time for Eddisons auction

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It was standing room only at Eddisons’ first property auction of the year, as investors turned out in huge numbers.

The Nicky Chapman suite at Leeds United’s Elland Road stadium was packed, with queues forming outside the door long before the first lot went under the hammer.

Tony Webber of Eddisons said: “Not only was it a big turn out, but everybody who came seemed in the mood to buy. The bidding was competitive for so many of the lots that the auction took considerably longer to finish than normal.

“Every single category proved popular with the majority of lots exceeding their advertised guide price, which reflected the positive market sentiment.”

In total Eddisons sold 108 of the 133 lots at its three-day sale in Leeds, Manchester and London, generating £11.2m.

Highlights of the Leeds sale included a vacant two bedroom terraced house on Naburn Road in Whinmoor which sold for £76,000, more than twice the advertised guide price. A tenanted fish and chip shop in Pudsey which was offered with a tenanted cottage sold for £140,000.

The very first lot of the day, a commercial unit at the Winker Green development on Stanningley Road in Armley sold for £40,000.

Elsewhere, a residential development opportunity in Harrogate with planning permission for nine flats was one of a number of lots which sold prior to the sale, for an undisclosed sum.

Eddisons is now inviting instructions for its next Leeds sale on April 10. The catalogue closes on March 6.

Mr Webber added: “The success of our sale further demonstrates for many people property remains the investment of choice. Vendors looking to sell quickly need to use this to their advantage and we can help them do that.”

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