Most successful auction ever for Eddisons auction house

Warren Lewis
6th March 2015

Auctioneer Eddisons says that its recent Leeds auction was the ‘most successful’ it has ever held.

The firm sold 51 (91.1%) of the 56 lots which went under the hammer at Elland Road stadium, generating proceeds of nearly £3,000,000.

Robert Limbert, Associate Director and Auctioneer said: "In terms of number of lots sold this was the most successful auction we have ever staged and quite possibly the best auction of all time in the Yorkshire region.    

The room was packed and a real feel good factor was apparent amongst buyers who bid enthusiastically for lots in all categories, ensuring most exceeded their advertised guide price.’

Highlights included the former caretaker’s house at Lawnswood School on Spen Road in Leeds which sold for £200,000. It had been offered on the instructions of Leeds City Council at a guide of £150,000 plus.   

Elsewhere, the former Bell Dean pub in the Allerton area of Bradford sold for £122,000 off a guide of £90,000 plus. The property had previously been unsuccessfully marketed for sale by private treaty at £95,000.             

Yorkshire Water also disposed of various sites across the Yorkshire region. These included a vacant 2.6 acre site in Foxholes, between Scarborough and Beverley which achieved £20,500, off a guide of just £4,000 plus.

The Leeds auction was part of a three day sale which included dates in Manchester and London. In total 82% of all lots offered sold, producing overall proceeds of £4,900,000.                                                        

Other strong performers included a freehold bar and restaurant investment in Reading town centre.

The property on Castle Street, let to Billionaire Bars Ltd until 2042 at an annual rent of £60,000, sold for £760,000. It had been offered at Eddisons’ London sale on the instructions of the Joint LPA Receivers at a guide price of £450,000 to £500,000.

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