SDL secures £1.27m sale of mixed-use lot
A part-let mixed-use lot in the North West sold for £1.27m at the latest SDL Auctions sale, helping it to a total of £24.3m.
The property in Leigh, Lancashire (lot 63) contains eight commercial units and 23 flats, and produces a rental income of £143,632 per annum, a yield of 11% on the purchase price.
Close to a retail and leisure development and with good transport links into Manchester city centre, 100 Lord Street (pictured) had been guided at £1.15m-plus.
A part-let mixed-use lot in the North West sold for £1.27m at the latest SDL Auctions sale, helping it to a total of £24.3m.
The property in Leigh, Lancashire (lot 63) contains eight commercial units and 23 flats, and produces a rental income of £143,632 per annum, a yield of 11% on the purchase price.
Close to a retail and leisure development and with good transport links into Manchester city centre, 100 Lord Street (pictured) had been guided at £1.15m-plus.
It was the largest lot in SDL’s live streamed national sale on 30 September, which saw 155 of 193 lots find buyers, an 81% success rate.
The auctioneer typically offers a mixed catalogue, but has announced plans to add dedicated commercial auctions to its calendar starting from 15 October to meet client demand. It follows a similar move by fellow Midlands-based auctioneer Bond Wolfe Auctions.
Prior to its September national auction, SDL had already sold more than £14.2m for commercial property sellers in 2020.
Managing director and auctioneer Andrew Parker said: “We are selling a selection of commercial properties in a dedicated auction and see this as the ideal opportunity for other commercial property sellers to reach a particularly focused audience.”
Other highlights from SDL’s September national auction included a three-bedroom property in Littleover, Derby (lot 1), which sold for £106,000 from a guide price of £59,000-plus.
In Nottingham the star of the show was the Grade II listed Holly Lodge in Holme Lane (lot 43), close to the National Water Sports Centre in Holme Pierrepont. The rural 19th century property sold for £412,000 from a guide price of £250,000-plus.
A three-bedroom semi-detached house in Wolverhampton (lot 15) with ample opportunity to add value attracted rapid bidding before selling for £194,000 from a guide price of £100,000-plus.
Combined with its other online sales last month, SDL raised a total of £26m for sellers in September. Lots sold for an average of 16% above guide prices.
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Image courtesy of PR
