Eddisons launches new national assets auction centre

Eddisons launches new national assets auction centre

 

Property consultant Eddisons has launched a new national auction centre in Bradford as the headquarters of its machinery and business assets team.

The 15,000 sq ft building, on Ounsworth Street in the city, which opened earlier this year, is currently filled with several thousand items, from classic cars to fabrication equipment, that are awaiting disposal via auction

Twenty vans, cars and trucks are all due to go under the hammer in an online auction ending on Wednesday this week, while a parallel online sale will dispose of over 600 lots of engineering and pipework machinery as well as forklift trucks and a large number of hand tools. Viewings for both auctions will be held on Tuesday 28 June.

Jason Pinder, Eddisons machinery and business assets director who heads up the auction centre team, said: “We have really stepped up the asset disposal side of the business and the new UK auction centre enables us to provide an even more responsive service to our clients.”

With a team of five machinery and business assets staff currently on board, Eddisons expects to make further hires later in the year to meet the growing demand for the sale of assets by auction.

“We are making big strides in gaining new business from private organisations that have assets they want to sell, alongside the work we do holding auctions as part of the insolvency process,” said Mr Pinder

“Auctioning assets is increasingly becoming the go-to method of disposing of outdated or surplus machinery that is taking up space, reducing efficiency and tying up funds, providing swift and profitable returns.

“The new auction centre gives us ample room to store and display items that are due to go under the hammer and as Bradford is well connected to the motorway network, we are able to dispose of assets for clients from right across the country,” he added.

 

Written by: on Thursday 07/07/2016

 

 

Huge array of catering and kitchen equipment up for grabs at Harrogate College auction

Huge array of catering and kitchen equipment up for grabs at Harrogate College auction

 

More than 270 separate lots of catering equipment and restaurant and café furniture are to be auctioned off ahead of Harrogate College’s relocation of part of its campus to a new purpose-built technology centre on Hornbeam Park in September.

The online auction, held by Leeds-based Eddisons on Thursday 30 June, will feature a vast array of kitchen equipment from the college, from fridges and ovens to sinks, tables and even a full dining room servery, complete with heated and chilled cabinets.

Jason Pinder, director of machinery and business assets at Eddisons, said: “This is an extremely wide selection of kitchen equipment, which will be of interest to restaurateurs, café owners or anyone in catering. As well as the large items and furniture there are also dozens of smaller items such as kitchen knives and food mixers.”

He added: “With such a large volume of items – 273 lots in total – due to go under the hammer on Thursday, there will inevitably be plenty of bargains to be had.”

The college, which is part of Hull College group, has developed a new technology centre, partly funded by the York, North Yorkshire and East Riding Local Enterprise Partnership, which will provide improved facilities for catering, fashion and joinery students. As well as a new restaurant and bistro for catering courses, the redevelopment will also feature hair and beauty salons, and modern science labs.

A further auction of Harrogate College garage maintenance equipment, hair and beauty items, printing equipment and office furniture will be held by Eddisons in July.

Viewings of all the catering lots up for auction will be held on Wednesday 29 June at Harrogate College. Further information on the auction is available from Eddisons at https://eddisons.com/assets-for-sale/

 

Written by: on Monday 27/06/2016

 

Eddisons Appointed on Anthony’s Disposal

Eddisons Appointed on Anthony’s Disposal

 

The Leeds office of Chartered Surveyors Eddisons has been appointed to dispose of the assets of the well known Leeds based restaurant Anthony’s, which has announced its closure.

The disposal includes the assets of Piazza by Anthony and Rib Shakk which are also based in the Corn Exchange, along with Anthony’s Patisserie in the Victoria Quarter.

Richard Temple of Eddisons, who is handling the disposal said: ‘It is sad when such a well know business runs into difficulties and is a blow to the Corn Exchange.

‘We will be working hard with the management team to dispose of the assets as quickly as possible.’

Award-winning chef Anthony Flinn opened his flagship restaurant in 2004, followed by the patisserie in 2006, with Piazza by Anthony following in 2008.

Despite good reviews the restaurants have struggled against increased competition within Leeds city centre and the prevailing economic conditions.

 

Written by: Richard Roe on Tuesday 25/06/2013

 

 

New jobs created in Ferrybridge as packaging company opens new warehouse

New jobs created in Ferrybridge as packaging company opens new warehouse

 

Packaging company Taylor Davis, which is based in Wiltshire and specialises in producing metal and plastic containers for food and other uses, has opened its first northern logistics centre at Ferrybridge in West Yorkshire.

The new facility has already created 15 new jobs in an area that was hit by the closure, in May this year, of the Ferrybridge C coal-fired power station which employed over 170 people, with further recruitment planned later in the year.

Property consultancy Eddisons, whose head office is in Leeds, acted on behalf of landlord Wharfedale Finance to broker the deal, which sees Taylor Davis sign a 10-year lease on the 40,000 sq ft warehouse at Ferrybridge Business Park.

The facility is the company’s first northern distribution base and will supplement its warehouse and distribution centres at Westbury in Wiltshire and Warwick, enabling more efficient delivery of its plastic and metal containers to clients across the UK.

Steven Jones, associate agency director at Eddisons, said: “Medium sized warehouses of between 20,000 and 50,000 sq ft, such as this one at Ferrybridge, are becoming increasingly scarce and rents, as a result, are rising.”

He added: “This was a real win-win situation as we were able to secure a tenant for our client as well as helping to provide a boost to the economy of the Ferrybridge area with Taylor Davis’s creation of new jobs to staff the firm’s new distribution centre.”

Wayne Weatherhead of Taylor Davis said: “We’re really excited to be expanding into Yorkshire and our new Ferrybridge site is ideally located for the A1 and M62 motorways which will give us excellent access to the whole of the North.

“We have come a long way since our inception in 1978. Despite our phenomenal growth, our core values remain the same, providing customers with an unparalleled level of cost-effective service. This, above all else, has secured our position as one of the largest suppliers of containers throughout the UK.”

Law firm Gordons acted on behalf of landlord Wharfedale Finance and Michael Steel & Co was joint agent with Eddisons on the deal.

Gordons commercial property partner, Paul Young, said: “We are very pleased to have a tenant of this calibre moving to the Ferrybridge Business Park, especially as this will create much-needed jobs for people in the local area. The fact that an established company of Taylor Davies’ size and reputation chose this site is testament to Ferrybridge’s ideal location and the quality of the space on offer.”

 

Written by: Steven Jones on Wednesday 22/06/2016

 

 

Almost 20% of Commercial Buildings fail to meet new Government Energy Standards

Almost 20% of Commercial Buildings fail to meet new Government Energy Standards

 

Almost a fifth of all the commercial property owners in the UK will be required to make improvements to their buildings to comply with new government energy standards. Failure to comply will see property owners run the risk of being barred from letting their properties.

The Energy Act was passed in the last Parliament and it includes rules that come into play in 2018. These new rules state that it will be unlawful to rent out a business property which does not meet the minimum energy efficiency standard. This minimum standard is an “E” rating with “A” being the highest possible efficiency rating.

The research was carried out by a national property agency and it found that nearly 20% of all commercial property currently has a rating of “F” or “G” which means they will have to make an improvement before 2018 to avoid penalties and the risk of no longer being able to rent out their property. Another 19% of properties are currently rated “E” according to the research which sees them teetering on the brink of compliance. The research categorised nearly 40% of all properties as potentially running into a performance risk if changes aren’t made before 2018.

From 2018, buildings that do not meet the minimum Grade “E” standard will be classified as ‘substandard’ which will affect the value of the property and also place owners in the firing line of penalties up to £150,000 if they do not comply.

The current guidelines require landlords renting out commercial property over 50 sq. m in size to have a government-approved energy performance certificate but they do not need to meet a specific Grade “E” standard and there is no obligation to carry out improvement works. It is very likely both landlords and property owners will be concerned about the level of change they need to make and the costs involved to comply with the legislation which comes into effect in just over two years time.

“Owners should bear in mind that occupiers will increasingly favour higher EPC-rated buildings which will have lower running costs, and help companies prove they have a strong sustainability track record,” said Phillip Webb; a property consultancy expert who helped commission this research.

Offering an attractive prospect to potential tenants means ticking every box and from 2018 this includes meeting the minimum energy efficiency standard.

The current guidelines require landlords renting out commercial property over 50 sq. m in size to have a government-approved energy performance certificate but they do not need to meet a specific Grade “E” standard and there is no obligation to carry out.

 

Written by: John Padgett on Friday 26/02/2016

 

Buy-to-let Landlords Win Legal Battle Against West Bromwich Building Society

Buy-to-let Landlords Win Legal Battle Against West Bromwich Building Society

 

A group of buy-to-let landlords have won a significant legal battle against the West Bromwich Building Society, which is now faced with a £27.5 million compensation bill as a result.

The case against West Bromwich was brought on the basis of claims that the building society wrongfully increased interest rates relating to some of its buy-to-let mortgages.

That claim has now effectively been supported by court of appeal judges, who have left West Bromwich with a very sizable bill to pay.

However, statements given on behalf of the building society have insisted that the pay-out will not put the financial stability of the organisation in any danger.

“Our financial position remains very strong,” a spokesperson for the society said after the recent ruling was handed down.

The ruling related to mortgages provided by West Bromwich to more than 6,000 buy-to-let landlords around the UK on the understanding that the associated interest rates would increase in response to any rises in the Bank of England’s base rate of interest.

However, in 2013, the building society decided to increase the monthly costs of its mortgages despite there having been no corresponding rise in the Bank of England’s base rate at any point since 2009.

It was this decision which court of appeal judges have now decided West Bromwich was not within its rights to take. The case was initially heard but rejected by the high court.

A group of borrowers affected by the issues collectively raised thousands of pounds to legal costs and fought the case as the Property118 Action Group.

As many as 6,415 borrowers who were affected by West Bromwich’s actions are now set to be contacted and refunded any amounts of money they were wrongly charged by the building society.

“Naturally we are disappointed by today’s decision from the court of appeal,” said Jonathan Westhoff, the building society’s chief executive.

“At all times, we acted to ensure we were treating customers fairly and that our approach was in the best interests of the society and its members as a whole,” he said.

Mark Alexander from the Propety118 Action Group wrote recently on his organisation’s website that the court of appeal’s ruling “sends a clear message” to other lenders who have large numbers of customers on buy-to-let tracker mortgages.

 

Written by: John Padgett on Monday 13/06/2016

 

 

New recruits and promotions boost Eddisons northern teams

New recruits and promotions boost Eddisons northern teams

 

Property consultant Eddisons has boosted its Yorkshire and Manchester teams with two new appointments and three promotions.

In the firm’s Manchester valuations division, Philip Deakin has been appointed as director. Joining the firm from property agent JLL, where he specialised in mid to large commercial property assets, Philip has acted on behalf of all major UK lenders and for large property companies and funds including Hunter Real Estate Investment Management, ING, Valad, Peel Holdings and HIMOR. He has valued some high profile North West properties, among them Port Salford, Carrington Business Park, Ship Canal House and Exchange Quay.

Also joining Eddisons is Ian Appleby, who has spent the past 40 years at RBS in Yorkshire in various roles, most recently managing the bank’s professional services portfolio. Based in the Eddisons’ Leeds office, Ian’s newly created role will be to support and develop the firm’s bank relationships across the north.

Within the firm, Steven Jones has been promoted to director in Eddisons’ agency division, while associate director David Cran moves from Manchester to Leeds to help drive bank and private client valuation work across Yorkshire. Kristan Love has also been promoted to associate director of the firm’s property management team in Manchester.

“These are exciting times for Eddisons and this raft of new hires and promotions is indicative of our appetite for further growth in the wake of recent acquisitions, including the Pugh & Co auction business in June,” said Richard Roe, managing director of Eddisons.

“I’m really pleased to welcome Phil Deakin and Ian Appleby, who are both high profile individuals and very well known in their fields, and it’s satisfying to see Eddisons attracting senior staff from some big firms.”

Richard added: “Steve Jones’ promotion to director reflects the recent success of our agency division and the high volume of deals that we are completing on behalf of a range of clients, from high net worth individuals, occupiers, and plcs to regional property companies, banks and investors.

 

Written by: Richard Roe on Tuesday 06/09/2016

 

 

Eddisons acquires Pugh & Co auction house

Eddisons acquires Pugh & Co auction house

 

Eddisons has strengthened its property auctions division with the acquisition of the UK’s largest auction house outside London, North West based Pugh & Co.

Established in 1991, £2m turnover firm Pugh & Co came under the control of managing director Paul Thompson in 2014 when he bought out the remaining 50 per cent stake in the business. Hosting auctions in Leeds and Manchester, Pugh & Co offer more lots for sale than any other commercial auction house outside the capital.

The acquisition will see Eddisons’ auction division and Pugh & Co, who together sold over £100m of property at auction last year, run monthly auctions in Leeds and Manchester under the Pugh brand, with a combined team of 36 staff led by Thompson.

Eddisons managing director Richard Roe said: “Pugh & Co is the perfect fit for Eddisons’ own property auctions division and together we now have the capacity to run the largest commercial property, residential property and land auctions in the North.

“The popularity of auctions as a speedy, transparent and reliable method of buying and selling property continues to grow and this acquisition, of a successful and highly respected auctions business, will be a massive boost to Eddisons’ capability in this area.”

Paul Thompson, managing director of Pugh & Co, said: “It’s great news that our firm is now part of Eddisons. Combining our strengths will enable us to offer an unrivalled service to clients, with an excellent geographic spread and depth of professional expertise and experience.”

 

Written by: Richard Roe on Friday 03/06/2016

 

 

Britain’s tallest folly up for sale after financial failure of building preservation trust

Britain’s tallest folly up for sale after financial failure of building preservation trust

 

Three historic listed British properties owned by the Vivat Trust, which went into liquidation in August 2015, including a Gothic tower, are to be sold.

Property consultancy Eddisons is marketing the properties, some of which have been fully restored, creating modern living accommodation.

They include the UK’s tallest folly, the 53m, Grade I listed Hadlow Tower near Tonbridge in Kent; as well as a 15th century timber framed gatehouse in North Yorkshire and a 14th century manor house near Hereford.

The Vivat Trust, a registered charity and a national building preservation trust, was dedicated to rescuing neglected and dilapidated historic buildings throughout the UK and providing them with a viable new use, as holiday properties. The trust’s directors called in insolvency firm Begbies Traynor last summer however, when the charity was hit by financial difficulties.

Now the properties owned by the trust have been put up for sale and Eddisons is inviting offers for the unique buildings, which have not been given a guide price.

Abdul Jambo, associate director at Eddisons, explained: “The properties are of such a unique and historic nature that we have rarely, if ever, seen anything comparable come to the open market.

“Because of this their values are likely to differ wildly depending on the potential buyers, whether they are a charity or a private enterprise. As such we will be leaving this to the market to decide and are looking to receive offers from anyone interested in owning an incredibly special piece of British history.”

Further information on all the Vivat Trust properties is available at https://eddisons.com/property-search/

The historic properties up for sale are:

Hadlow Tower, Tonbridge, Kent

Hadlow Tower, built by Kent industrialist Walter Barton May, is a fully restored rare Grade I listed early 19th century Gothic tower which originally formed part of Hadlow Castle.

The tower was begun in 1838 to a design by naval architect George Ledwell Taylor. Constructed of brick and rendered with Roman Cement, it stands 53m high – 1m taller than Nelson’s column which was built at the same time – and is the tallest folly in the UK.

In the Second World War it served as a vegetable store and observation post for the Observer Corps and Home Guard. It was used as a landmark by Luftwaffe pilots on their way to London, who dropped bombs in nearby fields.

Damage caused by the exceptional storms of 1987 created major structural problems and in the mid 1990s Tonbridge and Malling Borough Council carried out urgent safety work, removing the 40ft ‘lantern’ that crowned the structure.

The Vivat Trust took over the building 2008 and carried out a full-scale restoration of the tower with donations from local fundraisers, £2.6m from the Heritage Lottery Fund, as well as other funding from English Heritage.

With a steel staircase rising to the summit of the tower, the living accommodation is made up of three bedrooms, a drawing room, dining room, two bathrooms and a wet room spread over five storeys. The tower also has outdoor space.

Further information on the history of Hadlow Tower at http://www.hadlowtower.com/

Bolton Percy Gatehouse, near Tadcaster, North Yorkshire

The 15th century timber framed Grade II* listed gatehouse is located in the Yorkshire village of Bolton Percy, eight miles south west of York, and has been converted into a fully modernised two-bedroom house.

Restored by the Vivat Trust between November 2009 and April 2010, the gatehouse originally formed the defensive entrance to the village rectory and a courtyard of medieval buildings. The rectory was rebuilt in 1698 and the outbuildings, with the exception of the gatehouse, were demolished in the early 19th century.

The gatehouse now includes a kitchen and bathroom on the ground floor and a two-bedroom suite at first floor level with a sitting and dining area. The house also has its own private garden.

With the village pub on one side, the churchyard on the other and magnificent oak gates to hide behind, the gatehouse is in an idyllic village setting.

Wellbrook Manor, Peterchurch near Hereford

Wellbrook Manor, in rural Herefordshire, is a Grade II* listed farmhouse and has the substantial remains of a fine medieval hall house, dating from the late 14th century, at its core.

The house’s main surviving medieval elements are the ground floor entrance hall and sitting room which extends to the floor above, with a high ceiling and timber framing. It also has a medieval ‘solar wing’ or dining room, as well as a main bedroom above which has a spectacular roof structure and fireplace.

The Vivat Trust took over Wellbrook Manor in 2011, carrying out a rigorous restoration process which was not fully completed. The 2-acre estate includes the farmhouse, farm buildings, stone-built garages and a garden studio house.

Manor Cottages, a two-bedroom caretaker residence for Wellbrook Manor, is being marketed separately and is also available via Eddisons.

 

Written by: Abdul Jambo on Friday 20/05/2016

 

 

Commercial Property Owners in Scotland Urged to Take Action of Energy Efficiency Planning

Commercial Property Owners in Scotland Urged to Take Action of Energy Efficiency Planning

 

Commercial property owners in Scotland have been urged to take action to ensure that they are able to demonstrate how they plan to improve energy efficiency across their premises.

The warning, which has come from a team of leading Scottish property consultants, states that only a minority of commercial property landlords in Scotland are currently prepared for a new set of regulations which will soon make notably more demands of them from an energy efficiency perspective.

Incoming rules will demand detailed energy efficiency plans of the owners of any commercial property in Scotland that is larger than 1,000 square metres and being sold or rented out.

It is currently estimated that close to 70 per cent of all the landlords who will be impacted by the new laws are not currently compliant with the relevant legislation.

As well as being required to create a plan of action that outlines how a particular building will be made more energy efficient, landlords will also be obliged by Scotland’s new rules to submit relevant data on the subject to the register of Scottish Energy Performance Certificates.

Local authorities are expected to commence enforcement action against organisations that do not achieve compliance with the new regulations once they’ve come into effect across Scotland from September 1st 2016.

The advice for landlords who are set to be potentially affected by the new laws is to take pre-emptive action to ensure compliance comfortably in advance of the introduction of the legislation.

“It doesn’t happen in hours and weeks – it takes time to assess the building and look at energy output,” a spokesperson said.

“Really what we’re saying to commercial property landlords is ‘the time to act is now’.”

The Scottish Government has said that it is aiming through a variety of different forms of legislation to substantially bring down the levels of carbon emissions for which commercial buildings around the country are responsible.

It is estimated that these buildings currently account for roughly 40 per cent of all the carbon emissions generated across Scotland on an annual basis.

 

Written by: Steven Jones on Tuesday 17/05/2016