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Eddisons Auction Generates Over £6M

Written by: Richard Roe on Monday 22/09/2014

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Auctioneer Eddisons generated proceeds of over £6,000,000 at its latest two day sale in Leeds and Manchester.

Among the highlights was a former Bradford police building which sold on behalf of West Yorkshire Police for £418,000.

The property includes an extensive open plan garage, office complex and ancillary space, on a site area of approximately 1.36 acres. The guide price was £300,000 plus.

Elsewhere, a part-let freehold Grade II listed property in the centre of Newcastle, producing rent of £28,800 per annum, sold for £314,000. The guide price was £220,000 plus.

Europa House on the Adlington Business and Industrial Park in Poynton, Cheshire, achieved £370,000. It was offered at a guide of £300,000 plus, on behalf of the LPA Receivers.

Meanwhile a converted former Presbytery in Leeds, arranged as 15 flats producing income of approximately £65,000 per annum, achieved £512,000. The guide was £425,000 plus.

Also in Leeds, a fully let residential property sold for £100,000 more than the advertised guide.

The semi-detached house off Spen Lane is arranged as three self-contained flats producing annual income of around £21,500 and achieved £290,000. It had been guided at £190,000 plus.

In the Headingley area of Leeds a vacant stone built office and studio premises sold for £288,000, off a guide of £200,000 to £250,000.

Other lots included The Blacksmiths Arms, a vacant public house near Malton in North Yorkshire which was knocked down for £150,000.

Tony Webber, Director and Auctioneer at Eddisons said: ‘This was our first sale after the summer break and attracted a large attendance. There was competitive bidding for lots in all categories which helped drive prices up.

‘With plenty of interest in stock still available the final figure seems sure to increase.’

Eddisons’ next auctions take place in London on October 15th, Manchester on October 21st and Leeds on October 23rd.

Written by: Richard Roe on Monday 22/09/2014

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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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