Cash buyers attracted by realistic prices ensured the last Eddisons Property Auction of the year finished on a high note.
At the two day sale held in Leeds and Manchester 97 (76 %) of the 128 lots offered were sold, generating total proceeds of over £6.3m.
Tony Webber of Eddisons said: ‘This was a very strong performance to finish what has been a good year despite the tough economic conditions and the continual difficulties buyers have faced securing external funding.
‘Where vendors took our advice and set realistic reserves there were plenty of cash buyers ready to invest. In many cases the prices achieved exceeded our own expectations.’
Among the highlights was a portfolio of eight residential properties in Holmfirth near Huddersfield which sold for £436,000 off a guide price of £350,000 plus.
Meanwhile, the former Winterton’s Selling Centre on a site extending to approximately 6.97 acres in Winterton, North Lincolnshire sold for £400,000.
And in Middlesbrough, 10 individual properties with guide prices as low as £30,000 which were offered on behalf of the LPA receivers generated total proceeds of £469,500.
Mr Webber said: ‘The majority of these properties are tenanted and they generated some of the keenest interest from buyers both in the room and on the telephone, which helped to drive the prices well beyond their original guides.
‘We are expecting 10 similar lots to be included in our February catalogue which should generate the same level of interest.’
Finally, a portfolio of 20 dustbin stores adjacent to various back to back terraced houses in the Harehills area of Leeds sold for £13,000 having been offered at a declared nil reserve.
Eddisons first auction of 2010 takes place in Manchester on February 17 and at Elland Road, Leeds on February 18.