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Eddisons Gears Up For Next Property Auction

Written by: Richard Roe on Saturday 23/03/2013

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Eddisons has attracted 129 lots for its next two day auction on April 9th in Manchester and April 11th in Leeds.

These include 40 tenanted and vacant houses in locations across Leeds, including Armley, Beeston, Bramley, Harehills and Holbeck.

Guide prices start from just £15,000 for a vacant one bedroom mid back to back terrace on Recreation View, Holbeck, described as being in need of refurbishment.

A vacant part renovated two bedroom terrace house in Burnley is also guided at £15,000 plus.

Among the tenanted stock is a three bedroom terrace house on Wooler Avenue in Beeston, which produces income of £5,400 per annum. The guide price is £40,000 plus, a potential return of 13.5%.

Tony Webber of Eddisons said the keen pricing should present a great opportunity for buy to let investors.

‘These properties are very much priced to sell and should appeal to both new investors as well as seasoned campaigners looking to build their portfolios,’ said Mr Webber.

Six large parcels of land in Holmfirth, near Huddersfield offered on behalf of the joint LPA receivers are also likely to prove popular.

These include grazing land, with a building containing 21 individual stables, which extends to over nine acres on Bradshaw Road in Honley. The guide price is £150,000 plus.

In the same area a part completed three bedroom barn conversion has a guide of £115,000 plus.

Elsewhere, a tenanted unit at the Riverside Business Park in Ilkley producing rental income of £25,000 per annum is being offered at a guide price of £200,000 plus.

The catalogue also contains vacant former care homes, including Sandfield House in the Headingley area of Leeds. The property has lapsed consent for conversion into 14 apartments and is guided at £380,000 plus.

Development opportunities include the site of the former Hallbottom Gate Inn on Talbot Road in Hyde.

The freehold site has full planning consent for two semi-detached and three mews properties. The guide price is £170,000 plus.

Meanwhile, the vacant former Langtree garage site in Wigan has a guide price of £275,000 plus. The site is currently secured in preparation for redevelopment.

Both sales start at 12.30pm.

The full catalogue is available to view by clicking here

Written by: Richard Roe on Saturday 23/03/2013

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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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