Property sales 'help boost Sheffield economy', says top auctioneer
Sheffield’s Mark Jenkinson and Son averaged a 91 per cent sales success rate last year – a figure that principal auctioneer and partner Adrian Little described as ‘very strong’.
The firm got off to an even better start to 2017, selling all of the 27 lots on offer at Tuesday’s auction for a combined total of £2.75 million.
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It’s clearly good news for the company, which celebrated the highest results in the Yorkshire region for the second year running.
But Mr Little believes it is also good news for the city as a whole.
“A lot of our clients are self-employed builders who are buying a project to do up themselves and make a profit on,” he said.
“We are creating a job and providing a modernised house which can then be sold.
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“As a result of what we do, it’s putting a new house on the market and also providing jobs for local tradespeople. It’s a very healthy contributor to the economy.”
A perfect example of this form of economics was the sale on Tuesday of a property in Linaker Road, Walkley.
Needing complete refurbishment, the detached three-bedroom home with spectacular views over Sheffield sold for £110,000, from a guide price of £78,000.
“This is a total renovation job,” said Mr Little.
“It’s in a decent spot – Walkley Bank is popular. But it is very much a blank canvas.
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Hide Ad“Our market is very much builders, developers and investors. As a rule, people in our market are there to make money if they can.”
Also sold was a former day care centre in Beaumont Road North, which from a guide of £80,000 to £90,000 sold for £155,000.
Mr Little said: “That was very strong, although you just don’t know how these things are going to go.
“You don’t know who’s in the market, but that was a very strong result.
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Hide Ad“I don’t know what they are going to do with it, but I suspect it will probably not be too dissimilar to its previous use.”
Less of a blank canvas was a 19th century home in Banner Cross Road, which needed very little work. It sold for £352,000 – just over £100,000 higher than its guide price.
“That had more than 100 viewings,” said Mr Little.
“There is a lot of demand for properties like that. They don’t come up often in that area, and when they do, it’s a place where people want to live.”
The next Mark Jenkinson auction will take place on February 28.
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