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Eddisons to Offer 134 Lots

Written by: Richard Roe on Thursday 20/11/2014

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Eddisons is offering 134 lots at its final three day auction of the year, taking place in London on December 4, Manchester on December 9 and Leeds on December 11.

Tony Webber, Director and Auctioneer at Eddisons says: ‘We have assembled another varied catalogue to conclude a very busy year in which we have already generated proceeds of nearly £50,000,000 on behalf of our clients.

‘Investors have turned out in large numbers and bid enthusiastically for a wide range of stock, proving that for many people property remains the investment vehicle of choice.’

The London sale includes a major freehold residential investment near Coventry. The majority let property on Athol Road in Walsgrave is arranged as 15 flats, currently producing a gross annual rental income of £75,600. The guide price is £500,000 plus.

A freehold retail investment in the centre of Huddersfield generating annual income of £95,000 from tenants including Subway Realty is guided at £750,000.

A 6 bedroom Grade II listed barn conversion within the Brecon Beacons National Park which requires some additional works to bring the property to a compliant and habitable standard is guided at £300,000 plus.

Among the Manchester lots is Wellington Buildings on The Strand in Liverpool.

Extending to over 58,200 sq. ft., the part-let property currently generates annual income of £48,850 and is being offered on the instructions of the Joint LPA Receivers. Enquiries about the guide price should be made directly to Eddisons.

A major commercial investment in Leigh is also up for grabs. The property on Bradshawgate is let to EE Ltd and BrightHouse producing annual rent of £76,675. The guide price is £775,000 to £825,000.

Meanwhile a tenanted retail unit in Thornton Cleveleys, let to Londis at a rent of £24,000 per annum, is guided at £150,000 plus.

Highlights of the Leeds sale include a mixed use investment in the West Yorkshire market town of Otley.

The property on Kirkgate is fully let to tenants including TUI Ltd, who trade as Thomson, producing gross annual income of £38,100. The guide price is £400,000 to £420,000.

Also available is a tenanted student investment off Roundhay Road in Leeds. The part-let property on Spencer Place is currently let to three students, producing annual income of £10,908. The guide price is £85,000 plus, a potential gross return of nearly 13%.

In the Tyersal district of Bradford a mixed commercial and residential property producing gross annualised income of £28,600 is guided at £240,000 to £250,000

Elsewhere, a parcel of woodland extending to 8.35 acres to the east of Newton Rawcliffe Sewage Treatment Works near Pickering, in the North Yorkshire Moors National Park, has a guide of £5,000 plus. The site is designated as being of special scientific interest.

The full catalogue is available to view by clicking here.

Written by: Richard Roe on Thursday 20/11/2014

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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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