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119 Lots Set For Auction

Written by: Richard Roe on Thursday 11/07/2013

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Eddisons has attracted 119 lots for its next three day auction in London (July 25th), Manchester (July 30th) and Leeds (July 31st).

The London sale gets under way with a freehold public house in the village of Denford, near Kettering.

The Cock Inn is a Grade II listed building dating back to 1593, which is being offered with vacant possession at a guide price of £150,000.

Interest is sure to be high for a freehold retail investment on Kentish Town Road in North London, which is let to Sainsbury’s Supermarkets.

The property is held on a 10 year lease from 2011 by the retail giant, producing rental income of £90,000 per annum. The guide price is £1.5m to £1.6m.

A new retail and residential investment on the site of the former Gamecock Pub on Pudsey Road, near Bramley, is also in the London sale.

The development has already attracted high profile tenants including Subway, Greggs and Heron Foods, producing annual income of £78,000. This is set to rise to around £90,000 when the two flats to the upper floor are let. The guide price is £900 to 925,000.

Norton Mill, a period detached mill in Baldock, Hertfordshire, is also among the London lots.

The vacant mill, with outbuildings, occupies a site of about 1.26 acres and is described as providing a refurbishment or development opportunity, subject to consents.

The Manchester catalogue includes a former Chapel in Oswaldtwistle, near Accrington. The property on Melbourne Street is described as being in need of renovation and may suit alternative uses, subject to the necessary consents. The guide price is £25,000 plus.

Meanwhile, potential income of £30,000 is achievable from a mixed commercial and residential opportunity on Washway Road in Sale, which is guided at £220,000 plus.

Tenanted commercial stock includes College House in Barrow-in-Furness.

The property on Duke Street is currently let to a range of tenants, including the NHS, and produces £101,577 per annum. The guide price is £450,000 plus.

Elsewhere, a former residential care home on the outskirts of Rhyl town centre, with potential for alternative uses subject to planning, is guided at £130,000 plus.

Stock with declared nil reserves are a feature of the ever popular Leeds sale.

These include the site of the former Wombwell sewage pumping station in Wombwell, near Barnsley.

A nil reserve has also been set for the former Wansford No.1 sewage treatment works near Driffield. Both lots are being offered on the instructions of Yorkshire Water.

Other lots include Grove Villas, a detached former day care centre and offices on Cardigan Road, in the Headingley area of Leeds.

The vacant property extends to over 6,500 sq ft on a site of 0.54 acres, and may suit alternative uses subject to consents. It is being offered on the instructions of Leeds City Council at a guide price of £500,000 plus.

In Shipley, near Bradford, a property which is part-let to Subway is among the commercial investment highlights. It produces annual income of £17,500 and is guided at £190,000, a potential return of over 9%.

Development opportunities include land at School Croft in the rural village of Brotherton, near Knottingley. The 0.6 acre site has full planning consent for 10 houses. The guide price is £150,000 plus.

Among the residential stock is a portfolio of 17 vacant and tenanted properties, the majority of which are close to the A64 York Road in Harehills.

They are being offered on the instructions of the Joint Administrators, with guide prices starting from £30,000.

The sales take place at Le Meridien, 21 Piccadilly, London W1 on July 25th, The Premier Inn, Trafford Park, Manchester on July 30th and at Leeds United Football Club, Elland Road, Leeds on July 31st, all starting at 12.30pm.

The full catalogue is available to view by clicking here

 

By Tony Webber

Written by: Richard Roe on Thursday 11/07/2013

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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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