Member Article

Auction to feature £10,000 house and listed pub

Pugh Leeds £7m auction to feature £10,000 house and listed Bradford pub

A disused grade II listed pub in Bradford, a plot of land in Hull with planning consent for new homes, and a seven-bedroom investment property in Beeston, Leeds, guided at £80,000 are among over 80 lots included in Pugh’s next Leeds property auction, which are expected to generate in excess of £7m.

The Leeds auction, which takes place at Elland Road Stadium on 23 February, includes a number of notable lots, including the old Gardeners Arms off Little Horton Lane in Bradford, which is a Grade II listed building destroyed by fire in 2014. In need of complete refurbishment, the two-storey property has guide price of £55,000.

Also up for auction is the site of the former Railway Hotel in Gilberdyke near Brough in East Yorkshire, a plot of land close to Gilberdyke train station which has planning consent to build 29 two and three-bedroomed terraced, detached and semi-detached homes. The guide price for the site is set at £350,000.

In Beeston, Leeds, a five-bedroomed end-terrace house, which also includes a self-contained one-bedroomed apartment, will be auctioned with a guide price of £80,000 plus. With three rooms currently let, the property generates a rental income of £12,000.

Pugh’s Leeds auction also includes a two-bedroomed terraced house near Peterlee in County Durham, which has a guide price of just £10,000.

Pugh managing director Paul Thompson said: “A staggering £4.7bn of property was sold last year at auctions nationwide and we expect to see that strong demand for property in the auction room continue to grow with positive economic forecasts supported by stable interest rates and inflation.”

He added: “The renewed commitment to the Northern Powerhouse means that we are seeing investors attracted to the North, fueled by lower capital values, good rental demand and large scale investment in infrastructure and the regional economy. We sell over 80 per cent of our auction lots on the day, a clear sign that investors remain positive and see good returns from property and land purchases.”

With the acquisition of Pugh by property consultant Eddisons in June last year, the firm has bolstered its position as the largest commercial auctioneer in the UK by lots offered. In 2016 Pugh sold £100m of property at auction.

The auction will take place at 12pm on 23 February at the Gary Speed Suite, Leeds United Football Club, Elland Road, Leeds.

The full catalogue is available to view at www.pugh-auctions.com.

This was posted in Bdaily's Members' News section by Emma Kilmurray .