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June Property Auction

Written by: Richard Roe on Friday 01/06/2012

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A Wakefield lap dancing club and a fishing lake are among the lots at the next Eddisons two day property auction.

Krystals lap dancing club occupies part of a property on Cheapside in the centre of Wakefield, which also includes a self contained office and studio let to a karate club.

The premises currently generate annual income of £51,160 and have a guide price of £325,000 plus, a potential return of over 15%. 

Meanwhile, a fishing lake and woodland which extends to nearly 6 acres off Charles Street in Horbury,Wakefield, is also set to come under the hammer.

The lake and land are being offered on the instructions of the liquidators at a guide price of £10,000 plus, having been previously marketed at £35,000.

Elsewhere, a portfolio of five, two storey shop units in Eccleshill near Bradford are also for sale. Of the five units, two are tenanted, two are vacant and one is derelict.

Current rental income is £9,000 per annum, however there is expired planning consent for the demolition of the existing properties and erection of two retail units, plus six one-bedroom apartments, which could realise income of £22,000 when fully let. The guide price is £130 to 140,000.                                                      

Residential stock includes two vacant canal side cottages at Apperley Bridge near Bradford.

The two bedroom and three bedroom properties, adjacent to Dobsons Lock on the Leeds and Liverpool canal, are being offered on the instructions of British Waterways at a combined guide price of £250,000 plus.

The Manchester auction includes a portfolio of seven tenanted apartments in Aigburth Vale, Liverpool.

The luxury apartments within Travellers Court, a purpose built development of 14 apartments close to Sefton Park, are being offered on the instructions of the joint LPA receivers at a guide price of £400,000 plus.

The portfolio currently generates annual rental income of £52,500, a potential return of over 13%.

Elsewhere, a substantial part let retail/residential property in the centre ofBlackpoolproducing annual income of £19,240, which could increase to over £32,000 when fully let, is also up for sale.  

Guide prices for residential stock start at £15,000, which includes a tenanted one bedroom flat in Bolton. The property onCecilia Court South produces annual income of £3,000, a potential return of 20%.

The two day sale takes place on June 14 at Leeds United Football Club,Elland Road, Leeds and on June 19 at the Premier Inn,Trafford Park, Manchester, starting at 12.30pm. 

The full catalogue is available to view by clicking here

Written by: Richard Roe on Friday 01/06/2012

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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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