Former Victorian grand residence sold in SDL Auctions Graham Penny’s Leicester auction

A former grand Victorian residence was the star commercial lot sold in SDL Auctions Graham Penny’s Leicester auction which raised £2.4 million.

Ivydene in Earl Shilton has latterly been used as a 17 bedroomed care home but was previously sub-divided into apartments in the 1980s.

It attracted a lot of pre-auction attention as it has a number of potential uses, subject to planning permission, and there is currently a planning application in process for change of use back to its original residential status.

It sold for £400,000 and had a guide price of £400,000+.

Further afield, five plots of land in Heol Y Pentre, Pont Henri in Llanelli all sold with prices ranging from £750 to £1,200. They all had guide prices of £1,000+.

Andrew Parker, managing director and auctioneer at SDL Auctions Graham Penny, said: “This was a very successful auction with an excellent success rate of 88 per cent.

“Investors are increasingly turning to commercial property in the search for good returns and auctions can provide value that can’t be found elsewhere in the property market.”

SDL Auctions Graham Penny’s next Leicester auction takes place on Tuesday 9 October at the King Power Stadium.