Leeds property news: Eddisons auction generates almost £3m

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A Leeds auction raised nearly £3m in sales and saw a range of properties brough t to market.

A vacant five bedroom property in the Roundhay area of Leeds was among the lots snapped up at the recent Eddisons property auction at Elland Road stadium.

Virginia Cottage on Roman Avenue is arranged for multiple occupancy and has previously generated annual rental income of £18,600.

It sold for £175,000 having been offered at a guide price of £150,000 plus.

Meanwhile a tenanted residential property in Harehills incorporating a two bedroom house and a self-contained studio flat producing £9,000 per annum achieved £65,000, a gross return of nearly 14 per cent.

In Beeston a vacant four bed mid through terrace in need of total refurbishment went for £66,500.

Development opportunities included a vacant parcel of land at The Blossoms in Methley with planning for a three storey, four bedroom townhouse, which sold for £50,000.

The best performing lot of the day was a vacant former public house in Kegworth, near Derby, which sold for £319,000.

In total Eddisons sold 29 (78.4 per cent) of the 37 lots offered generating proceeds of nearly £3m.

Robert Limbert Associate Director and Auctioneer at Eddisons said keen eyed investors were out in force on the day.

He said: “There was good bidding across all categories, with very little escaping the interest of investors and developers.”

The firm is now inviting instructions for its next Leeds auction taking place on May 21.