Newspaper article Manchester Evening News

Sites with Planning Permission Popular in Sdl Auctions North West's Latest Sale

Newspaper article Manchester Evening News

Sites with Planning Permission Popular in Sdl Auctions North West's Latest Sale

Article excerpt

AFORMER public house in Miles Platting with planning permission for conversion into four apartments sold well in SDL Auctions North West's July auction at the AJ Bell Stadium in Manchester which raised a total of £1.8 million.

THE property, formerly known as the Navigation Inn at 1 Bourdon Street, overlooks the Rochdale Canal and its potential was the driving force behind competitive bidding which eventually saw the hammer fall at £275,000. It had a guide price of £150,000-£200,000.

Andy THOMPSON, senior valuer at SDL Auctions North West, said: "With residential property prices still booming in Manchester this is the kind of oven-ready development with planning permission that small developers are crying out for.

"Offering development sites such as 1 Bourdon Street in the auction room allows interested parties the opportunity to bid in the knowledge that once the hammer falls the property is in their hands after legal completion and they can plan the build out.

"For sellers, it is about marketing the property to the widest possible audience in the knowledge that competition in the auction room, online and on the telephone results in the best possible chance of a sale on the day. …

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