Commercial Property News

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Wednesday, May 13, 2023

6.6m generated at Eddisons Leeds and Manchester property auctions

Over 6.6m was generated at the recent property auction held in Leeds and Manchester by leading property auctioneers Eddisons.

Out of the 105 lots offered over the 2 day sale 74 (70%) attracted buyers which includes 7 lots sold prior to the auction and 11 which were sold after the event.

Tony Webber of Eddisons said: 'The high number of lots sold after the auction reflects the funding difficulties buyers are still experiencing due to the credit crunch. Once finances are in place however buyers are clearly still keen to come back with offers which in some cases exceeded the reserve.'

The April revenue takes total income generated by Eddisons from their auctions in 2009 to just under 22m.

'Given current market conditions the total sale proceeds for the year to date is very encouraging. This further demonstrates the appeal of the property market compared to traditional financial institutions as an investment vehicle,' commented Tony Webber.

The next Eddisons property Auction takes place in Leeds on June 11.