A Sheffield auction has achieved a record individual lot price as the property market boom continues.
For the second time in a row, sales surpassed the £5m mark at the monthly online auction (October 20) held by auctioneers Mark Jenkinson and Son.
The record-breaking sale was Kingston Way Factory Estate, a commercial lot of 12 industrial units, which sold on behalf of Hull City Council for £1,362,000, well above its £950,000 estimate. The winning bid was £2,000 above the previous individual lot record for a Mark Jenkinson & Son auction set in 2015.
Several properties sold well above their estimate, including a cottage with adjoining land in Greasbrough which sold for £260,000, £70,000 above its guide price. A 1.65-acre piece of land off Derbyshire Lane in Meersbrook sold for £152,000, more than three times its £25,000 estimate. A former funeral parlour in Hillsborough also sold for over £50,000 more than its estimate with a winning bid of £230,000.
Adrian Little, Head of the Auction Department at Mark Jenkinson and Son, in Norfolk Row, said: “Despite the difficulties presented by Covid-19, the auction market has remained incredibly busy. The online approach has proved extremely popular as buyers recognise the convenience of being able to safely bid from their homes or on the move rather than being in large group of people at Bramall Lane, which of course is just not an option at present.
“We already have over 30 entries for our final sale of the year, the deadline for which is 30 October.”
The auction also included the unusual £2,000 sale of canalside land which could be used for narrowboat mooring on the Sheffield and South Yorkshire Navigation Canal, close to Swinton Road in Mexborough.
The next auction is on Tuesday, December 1.
