Eddisons sale raises £2.8m
21 May 2012, 09:43
Auctioneer Eddisons has reported that it sold 78% of lots offered at its latest Manchester sale, generating proceeds of £2.8m.
Among the highlights was a portfolio of 11 tenanted apartments in Newcastle-under-Lyme which sold for £801,000, off a guide price of £740,000. The apartments on London Road generate income of £105,000 a year, giving a return of 13%.
A property in Levenshulme, Manchester comprising a ground floor retail unit and a one-bedroom flat which produces income of £8,400 a year, sold for £101,000 off a guide price of £75,000.
Elsewhere, an industrial unit with offices and yard on Knowsley Business Park, close to junction 4 of the M57, offered at a guide price of £150,000, sold for £180,000.
Andrew Brown of Eddisons said: "This was an excellent sale with a real cross section of lots selling, many of which exceeded their guide prices.
"Buyers were prepared to spend that little bit more on stock which they felt offered greater potential for realistic returns in the short, medium and long term, compared to traditional investments and pension funds."
The next Eddisons sale takes place on 19 June at the Premier Inn, Trafford Park starting at 12.30pm.