|
Results for 15 September 2009
A SALE OF TWO HALVES
Possibly appropriately in view of the Sheffield United Football Club venue, Mark Jenkinson and Son's September sale was divided distinctly into two sessions, one of which seemed to be played more against the slope of the pitch rather than the other, writes Paul Hough the firm's auctioneer partner.
The catalogue of sixty lots entailed an all day sale with equal morning and afternoon parts. The first half produced some superb goals for a capacity crowd, and clearly demonstrated the positive movement which is now being felt in the residential market.
Of the first thirty lots only three failed to sell, and those were bid close to reserves. Many lots achieved startling results reminiscent of much happier times when 90% success was the norm.
A large terrace property at Barnsley Road, Sheffield, originally a house, but used latterly as offices, was bid well above reserve to £121,000. A property at Middlewood Road Sheffield, used in the past as nurses accommodation soared to £186,000. An old retail building in Mexborough looked extremely neglected, and was offered with a guide of only £5,000 - £10,000. It sold for £16,000. Not a lot maybe, until you see the property!
Redundant pubs tend to be a problem, and there are currently a lot of them. They were designed as pubs for one purpose, and can be difficult to convert to other uses. The Appletree Inn, Clown Road, Stanfree, Chesterfield is one such, but it is an attractive building. It achieved a very pleasing £91,000 at the sale. A detached house at Machon Bank Road Sheffield, previously used for letting sold well at £215,000, and another at Montgomery Terrace Road, in two vacant flats exceeded all expectations at £151,000.
Lightwood Lane, Sheffield 8 was the location of two properties offered on behalf of Sheffield HSC NHS Foundation. As Auction co-ordinator partner Adrian Little put it “ We experienced a huge demand for viewings and realised that they would both sell well, but the prices of £222,000 and £196,000 were a total surprise in today's climate”
When we “changed ends” after lunch, the crowd was smaller and bids were fewer. A proportion did not sell, but nevertheless many did and Adrian is now talking to prospective buyers of a number of unsold lots. As ever, location was all important and this was demonstrated by a pair of student houses at Stalker Lees Road, and Denham Road Sheffield. Much favoured addresses for student living, the first was vacant and sold for £165,000 whilst Denham was let to four students at £12,480 per annum and was sold for £170,000.
An investment property at Abbeydale Road, Sheffield 7 with a current income from six flats of £22,500 per annum and vacant ground floor offices available for letting sold for £311,000
One interesting feature of the afternoon was the sale of a house at Huntley Road, Sheffield 11. Described as dilapidated, and in need of complete refurbishment. The property was last offered at our April sale and the contract had to be rescinded for legal reasons which are now sorted out. Offering a property twice within a few months can be hazardous as potential buyers tend to suspect problems. In this case the house, still totally unimproved, sold for £148,500. An increase of over 9% in five months during a recession!
It is worth remembering that in the case of all the sold lots, there is now a signed contract in place and a deposit paid, with the balance payable within a fixed period, usually four weeks from auction sale date.
The next Mark Jenkinson and Son sale will be held at Sheffield United's Platinum Suite on 13th October. The catalogue is complete and available on line, or emailed or by collection from the office. Thirty two lots are listed. Adrian Little and Mark Renshaw are busy inspecting properties for the November 10th sale. The deadline is 2nd October and some entries are already confirmed. Please contact Adrian or Mark if<
The next
sale will be held at the Crucible Theatre on: 21/09/2010.
Catalogues are available either by personal call, or by annual subscription
at nominal cost.
Contact
Adrian Little at Mark Jenkinson and son without delay if you
want to know more about this exciting form of selling, which is
of course ideally suited to "property with potential"
 
|
|
View Lot Results
  
|
