SDL Auctions raised £14.5m at its national auction on 27 August, achieving an 85% success rate.
SDL’s eighth lockdown auction saw auctioneers Andrew Parker, Rory Daly and Graham Penny reunited – but socially distanced – in the company’s head office studio. The live-streamed national auction offered 163 lots, of which 137 found buyers.
In Leicester, two ground-floor shops with uppers (lot 8) sold for £259,000, reflecting a gross yield of 7.7%.
A three-bedroom semi-detached house in the city (lot 1), sold for £212,500 – more than twice its guide price. SDL said it has the potential for a rental income of around £795 per calendar month.
In Derby, an eight-bedroom house of multiple occupation (lot 11) sold for £409,000, a gross yield of 8.79%. A six-bedroom HMO in the same city (lot 21) sold for £350,000, a gross yield of almost 10%.
Family homes proved popular, with a three-bedroom detached house in Tamworth (lot 33) selling for £238,000 from a guide price of £185,000-plus.
In Wales, a two-up, two-down cottage in Holywell (lot 55) sold for £45,000 from a guide price of £28,000-plus. However, two further lots in the town were withdrawn prior and three went unsold.
In the North East, more than 30 properties went under the hammer and achieved a 100% success rate. A three-bedroom maisonette in Horden, Peterlee, (lot 134) sold for £29,000 from a guide price of £8,000-plus. A two-bedroom second-floor flat in Peterlee (lot 136) sold for £18,000 from a guide price of £5,000-plus.
In Sutton-in-Ashfield, Nottinghamshire, a parcel of land at 30-32 Spring Road (lot 82), being sold in partnership with Ashfield District Council, attracted a huge amount of attention from bidders, selling for £115,000 from a guide price of £50,000. The land, with a derelict building, has been unoccupied for several years and could be suitable for development, subject to the necessary planning permissions.
The next national property auction will be held on 30 September.
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