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Eddisons Steers Former Car Showrooms To Sales Success

Written by: Richard Roe on Monday 15/09/2014

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The Bradford office of Chartered Surveyors Eddisons has completed the sale of two well known former Bradford car showrooms for an undisclosed sum, which was above the original asking price.

The modern purpose built showrooms and The Gatehouse, an adjacent Grade II listed office building on Manchester Road, have been sold to leading independent builders merchants, The Joseph Parr Group.

Eddisons acted on behalf of retained client Pendragon and achieved a sale within 12 months of instruction.

The firm reported strong interest from a range of potential buyers including budget gym operators, restaurant and banqueting companies and major retailers.

Steven Jones, Director at Eddisons said: ‘Since the early part of the year we have received multiple enquiries which resulted in at least five firm proposals.

‘It is a positive indication of current market conditions and the demand for quality stock, of which there is limited availability in this area, that we were actually able to achieve a figure higher than the original asking price.

‘The unsuccesful bidders will be actively seeking similar sites in and around Bradford, which is good news for landlords with appropriate stock.’

Written by: Richard Roe on Monday 15/09/2014

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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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