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Latest Eddisons Auction Attracts 104 Lots

Written by: Richard Roe on Thursday 29/08/2013

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Eddisons has attracted 104 lots for its two day auction on September 17 and 18.

The firm has received instructions from Leeds City Council, Yorkshire Water and Grainger Plc, as well as Joint LPA Receivers, UK banks, Administrators, property companies and private investors. Guide prices start from nil reserve.

A major residential investment opportunity in Blackpool is among the highlights of the Manchester sale on September 17.

1A Simpson Street, within the South Shore area, is arranged as eleven self contained flats, producing annual rental income of £51,220. It is being offered at a guide price of £190,000 plus, a potential return of nearly 27%.

In Lancaster, a parcel of land close to the Lancaster Moor Hospital which is subject to an unauthorised occupation, has a declared nil reserve.

Other lots include a car wash investment in Liverpool, on the corner of Walton Park and Rice Lane, which produces income of £12,000 per annum. The guide price is £75,000 plus.

Meanwhile, a prominent former public house with an associated piece of land on the A62 Oldham Road in Failsworth which may suit redevelopment subject to planning, has a guide price of £75,000 plus.

Elsewhere, a part completed residential development in Radcliffe which comprises three terraced properties at varying degrees of conversion, is guided at £145,000.

The development has the potential to generate around £18,000 per annum when fully finished and tenanted.

In Anglesey the former Dublin Packet on Rhos Y Gaer Terrace, close to the centre of Holyhead has a guide price of £100,000 plus. It is being offered on the instructions of the Joint LPA Receivers.

The Leeds sale on September 18 includes a tenanted retail investment in the Harehills area of the city. The property on Harehills Lane is let to McColl’s at a passing rent of £25,000 per annum. The guide price is £350,000 plus.

The Askham Bryan water tower near York is one of a number of lots being offered on the instructions of Yorkshire Water. It is currently let to Vodafone and TV York, producing annual income of £12,482. The guide price is £20,000 to £25,000.

The former North Brook Service Station in Bradford has a guide price of £125,000 plus. The site at the corner of Canal Road and North Brook Street currently generates annual income of £16,500.

The Charles Roberts Office Park in Horbury, near Wakefield, which was last occupied by the Bombardier Factory before its closure in 2005, has a guide price of £250,000 plus.

The building extends to over 17,700 sq ft, of which nearly 7,500 sq ft is tenanted, producing income of £41,518 per annum.

Land on offer includes two sites in Burley in Wharfedale, near Ilkley.

The vacant amenity land on Leather Bank adjoins the Goit Waterway, off the River Wharfe. The lot also includes an additional plot let to Wharfedale Hydro Power at a passing rent of £10,884 per annum. The guide price is £125,000 to £150,000.

Tony Webber of Eddisons said: ‘The catalogue offers a wide range of buying opportunities for investors, developers and owner occupiers, with lots including residential and commercial investments, vacant buildings and land.’

The two day sale takes place on September 17 at the Premier Inn, Trafford Park, Manchester and on September 18 at Leeds United Football Club, Elland Road, Leeds. Both sales start at 12.30pm.

The full catalogue is available to view online by clicking here

Written by: Richard Roe on Thursday 29/08/2013

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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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