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£1 Million Plus Guide Prices Among Eddisons Auction Stock

Written by: Richard Roe on Tuesday 01/07/2014

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Eddisons will offer a number of lots with guide prices in excess of £1,000,000 at its next London property auction on July 3rd.

These include City West Business Park in Durham. The multi-let investment on the Meadowfield Industrial Estate comprises 22 purpose built units producing £268,120 per annum, with additional income achievable when fully let. The guide price is £1,750,000 plus.

Meanwhile, a freehold marina development in Wyton, near Huntingdon is being offered on the instructions of the Joint LPA Receivers at a guide price of £1,500,000 plus.

Wyton Garden Village which forms part of Hartford Marina comprises 30 holiday units generating annual income of £71,520, with further revenue achievable once the vacant units are let.

Elsewhere, a fully let freehold office investment in Leeds has a guide of £1,250,000 plus. Evolution House and Bevan House on Springwell Road in Holbeck produce annual income of £271,985 from tenants including Leeds City Council, NHS and NPS.

Simon Bailey, Director and Auctioneer at Eddisons said: ‘These are significant investments which produce strong income as well as asset management opportunities.’

A freehold retail investment comprising two adjoining properties in the centre of Huddersfield is also being offered at the London auction.

The properties on King Street are part-let to Subway Realty Ltd and produce annual rent of £105,000 per annum. The guide price is £875,000 to £900,000.

The Eddisons London auction is the first day of a three day sale which includes dates in Manchester (July 8th) and Leeds (July 10th). In total 111 lots are scheduled to go under the hammer, with guide prices from just £1,000.

A high yielding industrial investment in Oldham is among the lots being offered at the Manchester auction.

Units 1 and 2 Hawksley Court, on the Hawksley Street Industrial Estate, are fully let and produce annual rental income of approximately £49,800. The guide price is £375,000 to £400,000, a potential gross yield of over 13%.

A development site within walking distance of Manchester city centre is also up for grabs.

The site at 91-93 Greengate in Salford has lapsed planning consent for a mixed use scheme comprising ground floor commercial and residential accommodation to the upper floors. The guide price is £250,000 plus.

The Leeds sale includes a modern office investment in Garforth. Unit 1 at Fusion Court on Aberford Road which is currently let to ESS Security Ltd at a passing rent of £23,837 per annum is guided at £160,000 to £180,000.

The former Bradford Playhouse in the Little Germany area of the city, incorporating a 290 seat auditorium, has a guide price of £175,000 plus.

Other highlights include a tenanted nine bedroom end of terrace in the Hyde Park area of Leeds producing annual rent of £42,120, has a guide price of £350,000 plus.

The full catalogue is available to view on-line at www.eddisons.com/auctions

Written by: Richard Roe on Tuesday 01/07/2014

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About the author

Richard joined Eddisons in 2003 and has been the Managing Partner since 2012, a role that sees him lead the strategic direction and development of the business under the ownership of Begbies Traynor Group plc. Richard has been instrumental in the growth of the business which has seen turnover more than double since 2008.

In addition to his role as Managing Partner, Richard continues to play a vital role with key clients, particularly in the banking sector, where he is a trusted adviser to major high street clearing banks. Over the last eight years, Richard has been appointed LPA Receiver on many high profile properties and assists in the recovery of distressed loan portfolios.

Prior to joining Eddisons, Richard worked in the real estate division of a 'Big Four' firm where his notable assignments included the privatisation of Saudi Telecom for flotation on the New York Stock Exchange.

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