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Eddisons Auction to Offer National Grid Portfolio

Written by: Richard Roe on Thursday 10/10/2013

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National firm of Chartered Surveyors Eddisons is offering a portfolio of lots on behalf of National Grid plc in London on October 22 as part of its three day sale, which also includes dates in Leeds (October 24) and Manchester (October 29).

The firm is acting jointly with Capita as part of an on-going disposal programme of surplus properties and sites through sale by auction and private treaty.

Guide prices for the 10 lots range from £5,000 to £200,000 and comprise a variety of assets including residential, development land and vacant commercial buildings.

Simon Bailey, Director and Auctioneer at Eddisons said: ‘We are particularly pleased to be offering a number of lots on behalf of National Grid plc which have not been on the open market for a very long time.’

Other highlights among the 109 lots going under the hammer at the three day sale include a tenanted retail investment in Leeds, let to One Stop Stores, a subsidiary of Tesco Plc. which produces income of £30,000 per annum. The guide price is £400,000.

Meanwhile a former public toilet in Morley, near Leeds is being offered on the instructions of the City Council at a guide of £10,000 plus.
Elsewhere, a small holding at the side of Otley Chevin is among a range of land opportunities included in the catalogue.

The 6 acre site at High Trees Farm on Leeds Road contains derelict buildings, a static mobile home and stables and is guided at £100,000 plus.

Among the highlights of the Manchester sale is the 34 bedroom Wilmslow Hotel in Fallowfield which has a guide price of £900,000 plus.

Development opportunities include a vacant property in Lytham St Annes, adjacent to the Royal Lytham & St Annes Golf Club, which is currently arranged as four self-contained flats, requiring modernisation. The guide price is £140,000 plus.

Tenanted residential investments include an apartment block in the Smithdown Road area of Liverpool.

The property comprises of six, one bedroom apartments which produce annual income of £23,920. It is being offered on the instructions of the Joint LPA Receivers at a guide of £120,000 plus, a potential return of nearly 20%.

Tony Webber of Eddisons said: ‘Our bumper catalogue includes a wide range of buying opportunities from vendors including local authorities, utility companies, Joint LPA Receivers, banks, administrators, property companies and private individuals.’

The London auction on October 22 also marks a change of venue. All future auctions in the capital will now take place at the Crowne Plaza, 19 New Bridge Street, London EC4V 6BD.

The Leeds sale takes place at Leeds United Football Club, Elland Road and the Manchester sale will be held at Premier Inn, Trafford Park. All sales start at 12:30pm.

Written by: Richard Roe on Thursday 10/10/2013

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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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