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118 Lots Included in the October Auction

Written by: Richard Roe on Tuesday 07/10/2014

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Eddisons will offer 118 lots at its next three day property auction in London (October 15th), Manchester (October 21st) and Leeds (October 23rd).

The London sale includes a freehold office investment near Stockton-on-Tees. Teesdale House is let to NHS Property Services Ltd at £159, 440 per annum, rising to £220,000 in 2018. The guide price is £1.5M to £1.6M.

A freehold convenience store investment in Tenby, let to Martin McColl Ltd until 2034 at an annual rent of £50,000, rising to £67,293, is guided at £725,000 to £750,000.

A property extending to around 43,300 sq ft on a site of approximately 1.21 acres in Halesowen, producing income of £43,100 is guided at £325,000 plus.

A freehold office investment on Roundhay Road in Leeds generating annual rent of £60,000 is guided at £425,000 to £475,000.

At the Manchester sale two tenanted units on the Wardley Industrial Estate near Worsley, producing £65,010.80 per annum, are available as a single lot at a guide price of £500,000 plus.

A vacant former nursery premises within the Bootle area of Liverpool is guided at £125,000 plus. The building on Pembroke Road has the potential for redevelopment, subject to planning.

Two investment opportunities in Barrow-in-Furness are also up for grabs. These include College House which generates income of £119,781 per annum and is guided at £450,000. Meanwhile, a freehold retail investment in the centre of Barrow producing annual rent of £68,500 is guided at £290,000 to £320,000.

A tenanted retail investment in Hazel Grove which is let for 15 years from 2009 at a current rent of £7,500 per annum has a guide price of £60,000 to £65,000.

Other highlights include a tenanted student investment in Rusholme, arranged as four flats producing annualised income of £32,020. The property is available at a guide price of £270,000 to £290,000.

Among the Leeds auction lots is a former Grade II listed Methodist Church in Birstall, near Batley. Extending to around 5,800 sq ft, it may suit alternative uses, such as medical and health related services, subject to planning. The guide price is £125,000 plus.

A part tenanted retail and showroom premises on Hessle Road in Hull, producing £25,000 per annum, has a guide price of £400,000 to £450,000.

Two major residential investment opportunities in Sheffield are also being offered. These include a substantial detached house on Pye Bank Road which is let on a 15 year lease from November 2013 and produces income of £26,500 per annum. The guide price is £120,000 plus.

A fully let property on Abbeyfield Road generating annual income of £24,960 has a guide of £100,000 plus. Both lots are being offered on the instructions of the Joint LPA Receivers.

Details of all 118 lots are available to view by clicking here.

Written by: Richard Roe on Tuesday 07/10/2014

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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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