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Eddisons Attracts 106 Lots For May Property Auction

Written by: Richard Roe on Thursday 01/05/2014

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Eddisons has attracted 106 lots for its next three day sale in London (May 15th), Manchester (May 20th) and Leeds (May 22nd).

The London auction includes a potentially high yielding freehold office investment in the town of Denmead in Hampshire. Primayer House within the Parklands Business Park is currently let to Primayer Ltd until 2023 at a rent of £85,250 per annum. The guide price is £650,000 to £700,000, a potential gross yield of over 13%.

Meanwhile, two vacant former Ministry of Defence aircraft hangers on Wroughton Airfield in Swindon which extend to 43,000 sq ft, on sites of approximately 8 acres and 18.5 acres, are guided at £275,000 plus and £325,000 plus respectively.

A vacant freehold four storey town house in the village of Mons, one of the highest villages in the Provence region of France, is guided at £200,000 plus.

The Manchester catalogue includes a tenanted industrial unit on the Newby Road Industrial Estate in Stockport, which is let to Anglian Windows at a rent of £50,000 per annum. The guide price is £375,000 to £400,000.

Elsewhere, Washington Hall, an existing laboratory and office facility in Chorley which occupies a site of around 3.2 acres, is guided at £400,000 plus.

Lots on offer at the Leeds auction include a former bridal dress shop, a derelict cinema and a tenanted residential care home.

The substantial double fronted former Farsley Brides premises in Farsley, near Pudsey, is being offered along with six self-contained, part tenanted flats and two garages at a combined guide price of £300,000.

In Hull, the former National Picture Theatre is guided at £35,000 plus. The derelict Grade II listed former part cinema premises on Beverley Road includes an advertising hoarding producing income of £1,500 per annum.

Other highlights include Ashton Lodge, a tenanted residential care home for the elderly in Maltby, near Rotherham, which is guided at £380,000 plus. The property comprises 24 bedrooms and is let to residential and nursing home group Mauri Care Ltd for 15 years from 2012, at a current rent of £50,000 per annum.

Among a choice of residential lots is a vacant three bedroom semi-detached house in need of total renovation in the sought after area of Tranmere Park in Guiseley, which has a guide of £140,000 plus. The property on The Fairway is being offered on the instructions of a deceased estate.

Tony Webber, Director and Auctioneer at Eddisons said: ‘We have assembled a very strong catalogue incorporating both investment and development opportunities, at a variety of guide prices to suit all budgets.

‘Total proceeds for the year to date already stand at over £19 million and we fully expect this positive trend to continue.’

The full catalogue is available to view by clicking here

Written by: Richard Roe on Thursday 01/05/2014

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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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