Unmodernised houses are continuing to be the ‘backbone’ of sales for a city auction house following a busy £2m auction.
Sheffield-based Mark Jenkinson and Son sold 34 out of 43 lots at the firm’s September auction including a four-bedroom unmodernised terraced house in Alexandra Road, Heeley with a guide price of £100,000 which sold for £136,000.
A two-bedroom property in Walkley also in need of modernisation and with a guide price of £75,000 sold for £106,000, while a three-bedroom inner terrace at Fanshaw Road in Dronfield achieved £124,000 against a reserve less than the guide of £90,000.
Adrian Little, Head of the Auction Department at Mark Jenkinson and Son, said: “The demand for unmodernised houses we saw in earlier auctions this year is continuing and remains extremely strong.
“One of my challenges is communicating to Executors and family members that a sale by auction for such properties has so many advantages.
“Not only do you achieve a legally binding contract and firm completion date on the fall of the gavel but the property is also entered into the highly competitive arena of the auction room which can often lead to some outstanding results.
“We had some delighted clients at this auction who had followed our advice and this paid dividends.”
Areas of land were also sold at the auction, held at The Platinum Suite, Sheffield United Football Club, including two freehold woodland sites in Halfway which went for £20,500 against a reserve of £2,000.
Added Adrian: “August has been very busy with enquiries and viewings despite it being the holiday period.
This was the first auction after the summer break and was a good indicator of the ongoing property market.
To date this year the Mark Jenkinson and Son auctions have sold 183 of the 212 properties for 19m with an overall success rate of 86%.
Established in 1877, Mark Jenkinson and Son, which has offices in Sheffield and Chesterfield, is the largest independent firm of Chartered Surveyors in South Yorkshire.
For more information visit www.markjenkinson.co.uk.