A disused water tower near Wakefield and a grade II listed former Victorian hotel building in Cleckheaton are among over 60 lots included in Eddisons’ next Leeds property auction, which are expected to generate in excess of £5 million.
The Leeds auction, which takes place at Elland Road Stadium on 21 April, includes a number of unusual lots, including the old Midgley Water Tower, at Flockton, near Wakefield, which is up for sale as a development opportunity with a guide price of just £4,000.
The George and Mead Hall in Cleckheaton town centre, which in the 19th century was an imposing hotel, has fallen into disrepair and has a guide price of £200,000-plus. The building covers almost 7,000 sq ft and has car parking and extensive landscaped grounds.
Glenn Levison, associate director at Eddisons , said: “We have a diverse array of properties and land going under the hammer in our spring auction which are generating plenty of interest. Property investment opportunities are in particularly high demand at the moment and the new stamp duty being levied on Buy to Let and second homes does not seemed to have diminished buyers’ appetites.”
He added: “Unusual properties always attract plenty of interest and the water tower at Flockton has already generated lots of enquiries. We are expecting it to go to an adventurous winning bidder, probably for rather more than its £4,000 guide price.”
Investment opportunities in the Leeds auction include a row of three Cleckheaton shops with two apartments above, at 28-36 Westgate. The shops are fully let to a recruitment agency, a tattooist and a beauty salon and the residential accommodation is also fully tenanted, generating a total rental income of £25,500 a year. The guide price is set at £275,000.
A two-storey, 4,000 sq ft building at 93-95 Main Street Garforth, Leeds, is also included. The premises is fully let to Barclays Bank on a five year lease until 2020, producing a rental income of £23,300, and with a guide price of £350,000 plus.
Monarch House on George Street in Wakefield city centre is a 9,000 sq ft landmark building suitable for division into two self-contained business units. It has a guide price of £260,000.
The auction will take place on 21 April at the Norman Hunter Suite, Leeds United Football Club, Elland Road, Leeds.
The full catalogue is available to view at www.eddisons.com/auctions
Robert joined Eddisons' property auctions team in 2004 as a senior surveyor and is now a Director and Auctioneer based in the Leeds office. The property auction division organises around 15 auctions a year in Leeds and Manchester and sold £30m of property at auctions in 2015. Previously, Rob worked for Ashtenne Industrial Fund and has more than 17 years’ experience in property.