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June Auction Details Announced

Written by: Richard Roe on Thursday 13/06/2013

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Eddisons has announced details of its next two day property auction which takes place in Manchester on June 25th and Leeds on June 27th.

Manchester lots include a mixed tenanted light industrial, with ground rent, investment in Warrington which produces income of £26,032 per annum.

The site on Knutsford Road has a guide price of £200,000 plus, a potential return of 13%.

Elsewhere, a tenanted retail property on Palatine Road, close to the prosperous town of Didsbury, comprising the Lotus restaurant, is guided at £85,000 plus. The annual rental income is £7,800.

A vacant parcel of land on New Mount Street, close to Manchester city centre, which is currently used as a car park producing income of £23,000 per annum, has a guide price of £150,000 plus.

Residential stock includes a portfolio of 13 properties in Accrington which have guide prices from £30,000.

Leeds highlights include a vacant Scarborough hotel and a former petrol station.

The Chatsworth Hotel is located close to Peasholm Park and enjoys an elevated position overlooking the North Bay, in the popular seaside resort.
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The 21 bedroom property is currently vacant and is being offered on the instructions of the joint LPA Receivers at a guide price of £115 to 125,000.

Meanwhile, the Rodley/Oaklands Service Station on the Leeds outer ring road, between Pudsey and Horsforth, currently used as a hand car wash producing rental income of £10,400 per annum, is guided at £150 to £175,000.

In Batley, a fully let property incorporating an Indian restaurant, has a guide of £195,000 plus.

The Saffron Restaurant occupies the ground floor of the property on Bradford Road, which also includes five self-contained flats. The current annual rental income is £24,976, a potential return of nearly 13%.

On Grattan Road in Bradford, a portfolio of five tenanted apartments generating £18,780 per annum has a guide of £180,000 plus.

Leisure investments include Boogie Nights and Back to the Nineties bar and nightclub in Chesterfield town centre. The property generates annual rental income of £20,000 and is guided at £180,000 plus.

A tenanted apartment in the popular town of Ilkley is among a range of residential opportunities.

The second floor apartment at Nesham House, within the sought after Grove Road area, produces rental income of £695pcm and is being offered at a guide price of £120 to 130,000 plus.

In total Eddisons has attracted 98 lots for its next two day sale which takes place on June 25th at the Premier Inn, Trafford Park, Manchester and on June 27th at Leeds United Football Club, Elland Road, Leeds. Both sales start at 12.30pm.

The full catalogue is available to view by clicking here

By Tony Webber

Written by: Richard Roe on Thursday 13/06/2013

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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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