Sheffield auction reels in sales of more than £4 million - including bidders from Europe

A Sheffield property auction got sales of £4.16 million as property bidders from Europe pushed up prices in the red-hot market.

Wednesday, 26th May 2021, 3:31 pm

The online auction held by city firm Mark Jenkinson attracted scores of bids from across Europe as single properties attracted up to 46 registered bidders.

Senior partner and auctioneer Adrian Little said lots would usually attract four or five bids, but a lack of properties for sale is firing an already over-heated market.

He added a terraced house on Longley Avenue West, Shirecliffe, had attracted 46 registered bids and another on Oakland Road, Hillsborough, had similar numbers.

Mr Little said they were attractive to bidders becuase they have potential.

He added: "There’s a lack of properties on the market, a lack of projects. We’ve had internatiional bidders from Europe and that is driving the price up.

“The online auction is opening the door to that market. People from all over the country are bidding here. Sheffield is highlighted as a growth area and people see the potential when they see what they can get here compared to the South.

"It is phenomenol because the price there is three times as much.”

This is pushing up the prices in Sheffield, which earlier this month was named as the second most in demand market in the country.

The Shirecliffe terrace had a guide price of £55,000 and sold for £96,000 while the Hillsborough terrace had a guide price of £95,000 and went for £175,000.

“Small properties are hot properties because more people can put their hands on the money. Getting £500,000 is different,” added Mr Little.

Auction highlights included the sale of Usher Wood in Wharncliffe Side, which was listed at £10,000 and went for £40,500.

The site is 1.9 acre of woodland on Main Road, next to residential property and opposite the former Oughtibridge Mill, which is currently being redeveloped.

Mr Little added: “It was purchased locally and there was considerable local interest. Woodland is always worth what what someone is prepared to pay.”

The wood was one of 27 lots sold and Mr Little said deals could be concluded today for a further three properties.

Sales included a city centre grade 2 listed property which went for £105,000 above the auction price. The Georgian properties, on Gell Street in the city centre, were on at £650,000 and sold for £755,000.

A former doctors’ surgery in Sheffield which was auctioned with a guide price of £70,000 sold for £114,000. The purpose built surgery on Lowedges Road, Lowedges, dates from the early 1990s. It features consulting rooms, offices, staff room/kitchen, WCs and storage.

Still on the market is the Royal Standard pub, on St Mary’s Road, near to Sheffield United’s ground. It now has a guide price of £500,000 after the auction.

The pub started at £375,000, did not sell on the day but Mr Little said: "There was considerable interest and we anticipate a deal.”

One surprise was a detached home in Steade Road, Nether Edge selling for £330,000 having been listed with a guide price of £350,000.

Mr Little said: “We were delighted with the prices achieved although slightly disappointed that some did not make their reserve.”

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