THE former Brighouse Town Hall is under new ownership after being sold at auction for £136,000.
The part-tenanted Grade II listed building generates rental income of £7,840, giving the buyer a return of nearly 6%.
The 124-year-old building, which had closed as a town hall in 1974, was put up for sale by Calderdale Council and attracted significant interest according to the auctioneer.
Tony Webber, of property agency Eddisons, said: “As you would expect for such an iconic building, there was plenty of interest and the final price exceeded our initial expectations.”
Meanwhile, a parcel of paved land in Rastrick, which was also offered on the instructions of Calderdale Council, sold for £27,000 off a guide price of £12,000 to £15,000.
In total, 74 of the 94 lots which came under the hammer at the two-day sale in Leeds and Manchester attracted buyers, generating proceeds exceeding £6.5m.
All sectors of the property market sold, including ground rents, land, vacant commercial sites in secondary and tertiary locations, tenanted retail and vacant and tenanted houses.
Mr Webber said: ‘This was an extremely good start to the year, as buyers reacted positively to the realistic guide prices.Property still provides strong rental income or future capital growth and appeals to investors looking for alternatives to traditional investment vehicles which continue to under perform.”
The next two-day sale takes place on March 31 at Leeds United Football Club, Elland Road, and on April 5 at The Premier Inn, Trafford Park, Manchester. Both sales start at 12.30pm.