Unusual land lots including 'half an island' go under hammer at £4.5m auction

6th September 2019

Land lots - including half an island in the River Don - sold for at least double their guide price after going under the hammer at Mark Jenkinson and Son's £4.5 million September auction.

The eastern half of the wooded island site in a picturesque location just down from Ewden Beck sold for more than 14 times the guide price of £500 at £7,250.

The Island

Lying on the boundary between Sheffield City Council and Barnsley Metropolitan District Council, the island site is approximately 0.37 acre, subject to seasonal variations and river levels.

More than 1.5 acres of Greenbelt land with future development potential between Main Road and Long Wood, Wharncliffe Side, Sheffield, went under the hammer at £30,000 but sold for £79,000.

Meanwhile 230 sqm of vacant land adjoining 150 Pontefract Road in Barnsley with a guide price of £10,000 went for £19,500.

Thirty-two of the 39 lots sold in our sixth auction of the year - an 85 per cent success rate, raising £4.5 million.

There was continued strong demand for unmodernised houses at the auction, held at The Platinum Suite, Sheffield United Football Club, with the biggest lot of the day a high-profile residential investment of 3 three-bedroom terraced houses on Whitham Road in Broomhill with a guide of £750,000 selling immediately afterwards.

Lot 45

Adrian Little, Head of the Auction Department, said: "Prices in the room varied between £6,100 for some residential ground rents in Sheffield to £496,000 for an industrial investment in Hull.

"There was strong demand for lots offered on behalf of Hull City Council with all achieving figures substantially above reserves. A number of the larger lots showed yields in the region of 5 per cent.

"Fierce competition was seen to the very last lot from local and national buyers, both present at the auction and at the end of the telephone line.

"This was our first auction after the summer break but was full of encouraging results and entries are already being taken for our October auction."

The next auction will be held at 2pm prompt at Sheffield United on October 22.

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

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