33 Turner Street

Northern Quarter office sold

A 6,000 sq ft vacant former office building in the Northern Quarter of Manchester city centre sold for more than three times its guide price at an Eddisons auction this week.

The four-storey 33 Turner Street had been offered at a guide price of £175,000 and finally sold for £605,000. It was listed as a strong redevelopment option and was purchased by an anonymous buyer. Development plans are not known at this stage.

A commercial investment in Claremont Road, Manchester sold for £105,000, up £30,000 on its guide price. A tenanted commercial and residential investment in Prescot Road, Liverpool which produces income of £10,938 a year sold for £230,000.

At the sale at Premier Inn in Trafford Park, Eddisons sold 20 of the 30 lots offered, generating proceeds of £2.7m.

The Manchester sale was the final day of the firm's first three day sale of the year which included dates in Leeds and London. In total Eddisons sold 108 of the 133 lots offered and generated total proceeds of £11.2m.

Tony Webber of Eddisons said: "This was an excellent start to our 2014 auction campaign and continues the trend we saw towards the end of last year.

"Demand was high for lots in all categories which meant that the bidding was competitive. This helped drive prices up and reflected the positive market sentiment."

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