A RETIRED solicitor from Ilkley has just sold the last of a 12-home Leeds property portfolio he bought for just £11,000 each in 1965.

The last of the 12 terraced houses in Harehills has just been sold after being continuously managed by Horsforth estate agents, Adair Paxton Ltd.

The portfolio owner, Michael Sharman, is the son of illustrious A B Sharman, after whom the famous 'Sharman Gates' at the St Michael's Lane entrance to Headingley Cricket ground are named, and whose ashes are buried in the outfield.

Originally, the 12 houses were all bought for about £11,000. They were rented out and then sold when they became vacant. The final sale was completed last week for about £60,000, bringing in substantial gains throughout the entire 50 years of investment.

Mr Sharman says: “This has been a trouble-free investment, handled professionally and without any discord over all this time and, ultimately, to land me in clover”.

Adair Paxton Ltd head of residential consultancy, Bruce Collinson, said: “It is extremely satisfying for us to have overseen this portfolio for the 50 years and, ultimately, bring our client a very worthwhile profit.”

Adair Paxton currently believes the property market going into 2016 is rosy for first-time buyers, providing properties are well presented and well located.