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Sale of Major Yorkshire Development and Investment Stock

Written by: Richard Roe on Tuesday 01/04/2014

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The Leeds office of Chartered Surveyors Eddisons has completed the sale of three residential development and investment opportunities across the Yorkshire region.

These include a vacant apartment block in Sheffield comprising 15, one and two bedroom apartments arranged over three floors, with mobility apartments at ground floor level.

Bellhouse Mews on Bellhouse Road in the Firth Park area of the city, close to the Northern General Hospital, had been used previously as support accommodation for young adults. It has been bought by a private investor off an asking price of £1m.

Elsewhere, a portfolio of Grade II listed period buildings in Wakefield with potential for residential conversion has been sold for off a combined asking price of £850,000.

The properties at St John’s North, close to Wakefield Girls High School and Queen Elizabeth Grammar School, form part of a Georgian terrace of former offices and residential blocks, extending to nearly 16,000 sq ft.

Meanwhile, a block of eight part-tenanted apartments within a purpose built development in Castleford which currently produce income of £36,720 per annum, has been sold off an asking price of £350,000.

John Padgett, Head of Agency at Eddisons, said: ‘We are delighted to have concluded these deals which indicate a renewed appetite for development and investment stock across the region.’

 

 

By Carl Gledhill

Written by: Richard Roe on Tuesday 01/04/2014

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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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