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Eddisons Launches First Combined National Auction

Written by: Richard Roe on Thursday 02/05/2013

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Eddisons is offering 115 lots at its first combined national property auction which takes place over 3 days in Manchester (May 21st), Leeds (May 23rd) and London (May 28th).

The catalogue provides plenty of choice for buyers in all asset classes, with commercial and residential investments, vacant commercial and residential buildings and land throughout the country all well represented.

Tony Webber of Eddisons said: ‘This is our inaugural combined national property auction and now makes all the lots we are selling more visible to buyers nationwide, as well as giving our clients a truly national marketing platform.’

The Manchester sale includes a part tenanted mixed commercial and residential opportunity in the Burnage area of the city producing rental income of £11,160, which has a guide price of £160,000 plus.

Elsewhere, a vacant parcel of land at Fereday Street in Worsley, with lapsed planning consent for 28 apartments, is guided at between £140 and 150,000.

Meanwhile, buyers in Leeds could be attracted to a major retail investment opportunity in the Whitkirk area of the city.

Tenants include Co-operative Funeral Services, an angling store and a carpet retailer, producing annual rental income of £53,650. The guide price is £550,000 plus.

There are also a number of former British Legion premises across the north of England being offered by the organisation’s trustees, with guide prices from £20,000.

Residential stock includes the former caretakers’ bungalow at Bramhope Primary School.

The vacant three bedroom property on Tredgold Crescent in the popular village on the outskirts of Leeds is being offered on the instructions of Leeds City Council at a guide price of £150,000 plus.

The London leg of the sale includes 10 parcels of land in prime locations throughout the country, on behalf of JCDecaux.

Among the portfolio is a 0.25 acre site in the London suburb of Raynes Park, which is guided at £750,000 plus, and may have development potential, subject to planning.

Rental income of £69,000 per annum is achievable from a tenanted property in Southall, Middlesex. The entire ground floor is let to Tote Bookmakers (trading as BETFRED), with residential accommodation to the upper floors. The guide price is £925,000.

The full catalogue is available to view by clicking here.

Written by: Richard Roe on Thursday 02/05/2013

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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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