The Leeds office of Chartered Surveyors Eddisons has completed the sale of a freehold investment apartment block near to Leeds city centre.
The Grange on Hough End Lane in Bramley comprises of 10 fully let one bedroom apartments, which produce annual income of £42,540. Also included in the sale is an additional parcel of land which currently has planning permission for a detached block of two residential dwellings.
The property and land has been purchased by the Leeds & Yorkshire Housing Association, off an asking price of £550,000.
Eddisons acted on behalf of the vendor, Treelark Investment Co Ltd.
Steven Jones, Associate Director at Eddisons said: ‘We have concluded this deal within six months of taking the property to market and in doing so have achieved an excellent price on behalf of our client.’
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.