Former shoe factory in Leicester steps into SDL’s national sale

A leasehold block of seven apartments in a former boot and shoe factory in Leicester’s cultural quarter will go under the hammer in SDL Property Auctions’ next national sale. The flats in St Georges Mill produce £51,000 per annum, a yield of 10.2% based on the guide price of £500,000. More than 100 lots have so far been listed for the 28 October sale, with lot numbers to be confirmed. A vacant freehold warehouse in Tipton, West Midlands, is guided at £595,000. A vacant, partially boarded up semi-detached house in Ilford, Essex, is guided at £750,000. The firm’s previous national auction, on 30 September, raised £16.5m from 148 lots sold, a 79% success rate. Meanwhile, SDL said it is pressing ahead with its new partnership with Rightmove to promote conditional auction sales to buyers and sellers, including providing information on fees. SDL handles a large volume of conditional lots, and listings for these will now be enhanced on Rightmove with live bidding updates and the option to register to bid. IAMSOLD was the first auctioneer to partner with Rightmove on the new feature, which launched in April. Pattinson Auctions, GOTO Group and Bamboo Auctions have all followed. SDL Property Auctions managing partner Andrew Parker said: “We do appreciate that there is still some suspicion about conditional auctions and have been working hard in our own business, with Rightmove and with other auction partners, to educate both buyers and sellers. There can be a lack of understanding about fees so we are proud to be leading the way in creating total transparency in this area, having been one of the first auctioneers to introduce a summary sheet of fees within the legal pack of every lot.” To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews