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February Auction Catalogue

Written by: Richard Roe on Monday 06/02/2012

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A former water tower with planning permission for residential conversion is to be auctioned later this month.

The building at Spacey Houses, near Harrogate which has planning consent for conversion to a four bedroom house is being offered for sale by Eddisons in Leeds on February 23, at a guide price of £110,000 plus.

Tony Webber of Eddisons said: ‘It is highly unusual for a building of this nature to be offered with residential planning permission, which I expect to be reflected in the interest it generates.’

In total 166 lots go under the hammer at the two day sale including a former library, a former NHS clinic, tenanted retail, vacant commercial properties, development land and a tenanted nightclub.

Leeds City Council is looking to dispose of a range of surplus stock including Farfield House in the Farsley area of Leeds.

The vacant property was last occupied by the Primary Care Trust as a clinic and before that as a residential dwelling. The guide price is £120,000 plus.  

Meanwhile, a Doncaster nightclub which failed to sell at auction last year is back in the sale room with a heavily reduced guide price.

The Coast2Coast nightclub on Silver Streetis being offered at a revised guide of £300,000 plus, compared to £450,000 last October.   

At the Manchestersale on February 21 guide prices start at just £10,000 for residential properties in Nelson, Accrington and Burnley.

Among the other stock likely to attract interest is a substantial end through terraced house inWarrington, arranged as 10 bedsits and studio apartments.

The part let property currently produces annual income of £29,040, which could rise to £36,000 when fully let. The guide price is £150,000 plus, a potential return of 24%.

Meanwhile a number of mixed retail, commercial and residential properties in the Prenton area of the Wirral are offered on the instructions of the joint LPA receivers.

These include a part let mixed retail and residential property comprising a partly renovated café and a self contained two bedroom flat above. The guide price is £60,000 plus and the potential revenue when fully let is £10,000.

Figures just released by the Essential Information Group, the leading providers of the latest data on the UK auction market, shows Eddisons as the top ranked auction house in Yorkshire and Humberside for 2011 and 10th in the national league table.

The two day sale takes place on February 21 in Manchester and on February 23 in Leeds, starting at 12.30pm.

Written by: Richard Roe on Monday 06/02/2012

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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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