Commercial property remains popular

Commercial property is still popular with buyers in the north of England as recent auctions have proven popular with buyers.

Reports from seller Eddisons revealed that 99 of its 135 lots on offer at a two-day auction in Leeds and Manchester sold. This represents 73 per cent of the lots on offer, suggesting that there is still a high level of interest.

Included in the sale were some more unusual properties, such as a fishing lake. However, some less unusual commercial property sites sold at bargain prices, with a site off Charles Street offered at guide price of just £10,000 after having previously been marketed for sale by private treaty at £35,000.

Tony Webber of Eddisons told the Huddersfield Daily Examiner: “This was an excellent performance with investors responding positively to the realistic guide prices and in many cases bidding on multiple lots.

“Buyers were out in force, which clearly demonstrated that property remains preferable to more traditional forms of investment.”

Some residential stock was also sold off at the auctions, however commercial property accounted for the majority of sales. In total, Eddisons took around £8 million from the sales at the two locations.

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