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Eddisons Announces Lots For First London Auction

Written by: Richard Roe on Tuesday 30/10/2012

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Eddisons, a leading national firm of Chartered Surveyors and Auctioneers, has attracted 22 lots for its first London auction on 21 November.

The catalogue contains a mix of commercial and residential investments, vacant buildings and development land, on behalf of Receivers, Liquidators, property companies and private individuals.

There are also various asset management opportunities.    

Investment stock includes properties let to high profile tenants including Holland & Barratt, Marstons Plc, HSS Hire Services Group and Poundstretcher.

Simon Bailey Director and Auctioneer at Eddisons said: ‘I am very pleased with the response to our inaugural London auction. The range of stock we have attracted should offer something for everyone.’

Highlights include a freehold retail investment on Seven Sisters Road in Holloway, North London which is let to a Subway franchisee until 2029 at £30,000 per annum. The guide price is £450,000 plus.

Elsewhere, a freehold commercial building in Hampton, Middlesex which could lend itself to a variety of different uses, subject to the necessary consents, is being offered with vacant possession at a guide of £90,000 plus.

Residential stock includes a tenanted penthouse apartment on Station Road in High Barnet which generates £13,800 per annum. The guide price is £280,000 plus.

Meanwhile, a property in Sydenham which is arranged as three recently refurbished flats is guided at £500,000 plus.  

Eddisons currently holds 16 auctions annually in Leeds and Manchester and is staging its first Irish auction in Dublin on November 15th. Five further London auctions are already planned for 2013 therefore increasing the total number of auction to 21, excluding Ireland.

Mr Bailey said: ‘We look forward to complementing our established auction programme and developing a strong national offering.’

The inaugural London sale takes place on 21 November at Le Meridien, 21 Piccadilly, London W1 starting at 2.00pm.

Written by: Richard Roe on Tuesday 30/10/2012

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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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