Local authority properties push up sales in £4m auction

25th February 2016

Large number of lots offered on behalf of South Yorkshire and North Lincolnshire councils led to a packed Sheffield acution hall and sales of nearly £4million.

Council properties including a former community centre, garage site, and school building all went under the hammer at the Mark Jenkinson and Son auction.

The former community centre at Laxton Road, Barnsley, which had a guide price of £80,000 sold for £200,000, while the Old School House, Thorne Road, Stainforth, Donocaster sold for £79,000, and the former BUrnside Site in Thurnscoe, Rotherham for £60,000.

Adrian Little, Head of the Auction Department at Mark Jenkinson and Son, said "The auction room was absolutely packed and we had a lot of interest in particular in the council buildings as many local authorities are looking to sell in the current tax year.

"A number of student investment properties were also sold, ahead of changes to Stamp Duty in April."

In Sheffield a well-known Grade II listed city landmark on Princess Street / Blackmore Street, sold for £325,000. The Priincess Works is the former home of stainless steel, and features a commmerative plaque to inventor Harry Brearley.

A number of unmodernised houses were also sold including Waller Road at Walkley, which attacted more than 100 viewers.  The stone fronted semi-detached house, which was in a very poor state of repair and in need of complete renovation, had a guide price of £50,000 but sold for £130,000.

In total just under £4million worth of property was sold during the the hour long auction, held at the Platinum Suite at Sheffield United Football Club, with 38 of 45 lots offered sold.

Adrian Little added: "Last year saw our busiest post-recession period in all areas of the firm and the first two months of 2016 has seen a continuation in a similar vein."

"The stamp duty issue has focussed attention in the investment sector but I expect it to be "business as usual" once things settle dowm into the main Spring period.

Sales of more than £27million saw the firm record the best results in the whole of Yorkshire and the Humber for 2015, according to industry reseacrh by Essential Information Group (EIG).

Mark Jenkinson & Son was established in 1877 and is the largest independent firm of Chartered Surveyors in South Yorkshire, with offices in Sheffield and Chesterfield,

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Email adrian@markjenkinson.co.uk or call 0114 276 0151

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