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Wide Choice Available At Eddisons’ Next Three Day Auction

Steve Jordan

Asset Sales

| March 31st 2015

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Wide Choice Available At Eddisons’ Next Three Day Auction

Eddisons is promising investors an eclectic mix of investment and development opportunities at its next three day sale in London (8 April), Manchester (14 April) and Leeds (16 April).

Among the lots going under the hammer are a tenanted Indian restaurant in Bedford, two freehold wind turbine sites near Stafford and a vacant former Methodist Church in Ferrybridge.

The London sale includes a mixed-use freehold investment on High Road, Cotton End in Bedford. The property comprises an Indian restaurant and two separate two bedroom flats which produce overall annual rent of £31,200. The guide price is between £375,000 and £400,000.

Meanwhile, two freehold sites near Stafford with planning permission for two, 250kw wind turbines are being offered individually at guide prices of £150,000 plus each.

The North West sale includes a part converted freehold property on Back Turner Street in Manchester city centre. The three storey mid terrace building is just 100 metres from the Arndale shopping centre and has been partially converted into four self-contained flats. The guide price is £300,000 plus.

In the Old Swan area of Liverpool a tenanted commercial property currently producing income of £33,200 per annum is guided at £250,000 plus.

A freehold investment in Barrow producing annual income of £68,500 is available on the instructions of the LPA receivers at a guide of £200,000 plus.

The Leeds sale includes a former Methodist Chapel in Ferrybridge. The vacant freehold property, believed to date back to around 1878, is guided at £75,000 plus. It may suit alternative uses, subject to planning.

Elsewhere, a part-let retail investment in the centre of Redcar looks odds on to be a winner with punters.

The property on High Street is arranged as two self-contained units, one of which is let to Coral Bookmakers at an annual rent of £18,000. The guide price is £200,000, a potential gross return of 9 per cent.

Residential highlights include a vacant five bedroom house close to Street Lane in the Roundhay area of Leeds. The property is arranged for multiple occupancy and has previously produced income of £18,600 per annum. The guide is £150,000 plus.

A 0.633 acre site on Alton Grove in Shipley, near Bradford, with planning permission for ten townhouses is just one of a number of development opportunities up for grabs. The guide price is £150,000 plus.

Full details of all the lots going under the hammer are available to view at www.eddisons.com/auctions.

Steve Jordan

About the author

Steve Jordan

Partner

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Steve has carried out insolvency agency advice since 1983 and was a Partner in a provincial surveying practice from 1990.

Steve joined Begbies Traynor in 2006 to lead a team providing asset valuations, appraisals and sales of business assets within insolvency or recovery instructions scenarious. He provides advice to support Insolvency Practitioners in formulating marketing and disposal strategies, negotiation of sales by private treaty and organises public auctions or tenders. Steve manages external formal valuations if necessary, having first provided all preparatory work and appraisals, also seeking to resolve occupational issues and third party claims.

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