Eddisons’ July auction reaches £2.5m
Auctioneer Eddisons raised £2.5m selling 70% of lots offered at its recent Manchester auction.
Highlights included the sale for £250,000 of Minerva House, a vacant office building of 33,190 sq ft and industrial unit of 4,555 sq ft on Pendlebury Road in Swinton.
A high-yielding retail and residential investment in the centre of Blackpool was bought for £195,000. The property on Church Street, which contains a retail unit with three self contained flats to the upper floors and a further house to the rear, generates annual income of £39,250, a return of over 20%.
In Lytham St Annes, a fully let property comprising a ground floor retail unit and a five-bedroom apartment above, generating annual income of £15,400, sold for the guide price of £150,000.
Residential stock included a vacant one-bedroom apartment in a recently converted wool mill in Dobcross, near Oldham, which sold for £77,500 off a guide price of £55,000.
Among the tenanted stock was a terraced house on Finchley Road in Blackpool which sold for £83,500. The property is arranged as two flats and produces annual income of £13,043, a return of over 15%.
Andrew Brown of Eddisons said: "There was strong demand across all categories, with commercial stock proving particularly popular.
"Bidding was brisk as buyers looked to take advantage of the realistic pricing."
