£1 Million Plus Guide Prices Among Eddisons Auction Stock
Eddisons will offer a number of lots with guide prices in excess of £1,000,000 at its next London property auction on July 3rd.
These include City West Business Park in Durham. The multi-let investment on the Meadowfield Industrial Estate comprises 22 purpose built units producing £268,120 per annum, with additional income achievable when fully let. The guide price is £1,750,000 plus.
Meanwhile, a freehold marina development in Wyton, near Huntingdon is being offered on the instructions of the Joint LPA Receivers at a guide price of £1,500,000 plus.
Wyton Garden Village which forms part of Hartford Marina comprises 30 holiday units generating annual income of £71,520, with further revenue achievable once the vacant units are let.
Elsewhere, a fully let freehold office investment in Leeds has a guide of £1,250,000 plus. Evolution House and Bevan House on Springwell Road in Holbeck produce annual income of £271,985 from tenants including Leeds City Council, NHS and NPS.
Simon Bailey, Director and Auctioneer at Eddisons said: ‘These are significant investments which produce strong income as well as asset management opportunities.’
A freehold retail investment comprising two adjoining properties in the centre of Huddersfield is also being offered at the London auction.
The properties on King Street are part-let to Subway Realty Ltd and produce annual rent of £105,000 per annum. The guide price is £875,000 to £900,000.
The Eddisons London auction is the first day of a three day sale which includes dates in Manchester (July 8th) and Leeds (July 10th). In total 111 lots are scheduled to go under the hammer, with guide prices from just £1,000.
A high yielding industrial investment in Oldham is among the lots being offered at the Manchester auction.
Units 1 and 2 Hawksley Court, on the Hawksley Street Industrial Estate, are fully let and produce annual rental income of approximately £49,800. The guide price is £375,000 to £400,000, a potential gross yield of over 13%.
A development site within walking distance of Manchester city centre is also up for grabs.
The site at 91-93 Greengate in Salford has lapsed planning consent for a mixed use scheme comprising ground floor commercial and residential accommodation to the upper floors. The guide price is £250,000 plus.
The Leeds sale includes a modern office investment in Garforth. Unit 1 at Fusion Court on Aberford Road which is currently let to ESS Security Ltd at a passing rent of £23,837 per annum is guided at £160,000 to £180,000.
The former Bradford Playhouse in the Little Germany area of the city, incorporating a 290 seat auditorium, has a guide price of £175,000 plus.
Other highlights include a tenanted nine bedroom end of terrace in the Hyde Park area of Leeds producing annual rent of £42,120, has a guide price of £350,000 plus.
The full catalogue is available to view on-line at www.eddisons.com/auctions
Written by: Richard Roe on Tuesday 01/07/2014