Potential development site sparks fierce bidding

Potential development site sparks fierce bidding in SDL Auctions Graham Penny’s Leicester auction.

Residential lots proved as popular as ever in SDL Auctions Graham Penny’s Leicester auction which raised a total of £3.6m.

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The first lot that went under the hammer set the tone for the auction at the King Power Stadium when 134 Ratcliffe Road, a three bedroomed semi-detached bungalow in Sileby sold for £131,000. It had a *guide price of £75,000.

The final lot of the day rounded off an excellent auction when 2 Albion Street in Oadby, an end of terrace three bedroomed property, sold for £162,000. It had a guide price of £110,000.

Other lots that saw competitive bidding include 66 Wicklow Drive in Evington, a three bedroomed terraced house, which sold for £169,500. It had a guide price of £135,000.

But the fiercest bidding on the day was reserved for a plot of land adjacent to 184 Markfield Lane in Newtown Linford. The site is rectangular in shape with a road frontage of 66ft and a depth of 243 ft.

Andrew Parker, managing director and auctioneer at SDL Auctions Graham Penny, said: “This was a site of some 0.37 acres situated in a popular and desirable location between the villages of Newton Linford and Markfield.

“It’s close to Bradgate Park but also has easy access to the A50 and M1 motorway.

“The land is included in Charnwood Council Strategic Housing Land Availability Assessment 2017, and clearly was recognised as an investment with possibilities.

“It has the potential for future development, subject to planning permission and I believe it was this potential that drove such strong bidding.”

The plot was offered with a guide price of £20,000 and after fierce competition the hammer finally fell at £123,000.

SDL Auctions Graham Penny’s next auction in Leicester takes place on Thursday 9 August at the King Power Stadium. Property owners looking to sell can request a free auction appraisal by calling 0116 254 9654.