£2.5m raised at Eddisons sale

Auction house Eddisons reported that 45 of the 63 lots offered at its sale on 3 April in Manchester sold, generating proceeds in excess of £2.5m.

A tenanted Wigan nightclub (pictured) was bought by a private investor for £350,000. Chicago's on King Street generates annual income of £75,000.

A substantial Georgian mid terraced building in Warrington which sold for £224,000 off a guide price of £125,000, despite being in need of extensive refurbishment. The property on Bewsey Street, close to the railway station was formerly the site of a hotel and was most recently utilised as 11 self contained studio and one bedroom apartments.

On Church Road West in Liverpool a property which comprises a children's day nursery, a lock up garage and five one-bedroom apartments sold for £231,000 off a guide of £165,000.

The part let property currently generates annual income of £25,558, with the potential for this to increase to £38,000 when fully let.

Residential stock included a modern detached three bedroomed house off Abbots Park in Chester which sold for £204,000 off a guide of £160,000.

There was also strong demand for a large portfolio of regulated tenancies.

Andrew Brown of Eddisons said: "Many lots attracted multiple bids as local buyers reacted positively to a range of investment opportunities."

The next sale tales place on 15 May at the Premier Inn, Trafford Park, Manchester starting at 12.30pm.

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