Eddisons May property auction
By Bridging Loan Directory
A tenanted freehold block of apartments in the centre of Bradford which currently produces annual income of £99,960 is up for sale at an auction next month.
Merchant’s Court on East Parade in the Little Germany area of the city is among the lots at the Eddisons sale in Leeds on May 10, at a guide price of £890,000 to £920,000.
The development incorporates 17, one and two bedroom apartments which are let under assured shorthold tenancy agreements.
Meanwhile, a former Leeds Highways Depot which is being offered on the instructions of Leeds City Council at a guide price of £120,000 plus is already attracting plenty of interest ahead of the auction according to Eddisons.
Tony Webber said: ‘We use our database to target customers who we feel might be interested in certain lots. Since the particulars went out we have received a number of enquiries.’
Elsewhere, the former ARLA Foods depot on Watergate in Huddersfield which had previously been marketed at offers in excess of £200,000 has a guide price of £90,000 plus.
Land up for grabs includes 3.4 acres of forest land off Old Pool Bank in Otley which has a guide price of £7 to 10,000, while a parcel of leasehold car park land in Doncaster has a declared nil reserve.
The Manchester sale includes a 37,000 sq ft industrial unit with offices at Knowsley Business Park in Liverpool which is being offered on the instructions of the joint LPA receivers at a guide price of £150,000 plus.
The premises are in an established location close to junction 4 of the M57 motorway.
Residential stock includes a portfolio of eleven tenanted apartments in Newcastle-Under-Lyme which collectively generate rental income of over £105,000 per annum.
In the first instance the units on London Road are being offered as one lot at a guide price of £740,000 plus, a potential return of over 14%.
If they do not reach the agreed reserve price the apartments will then be offered individually with guide prices from £50,000 plus.
In total 107 lots are scheduled to come under the hammer at the two day sale taking place on May 10 at Leeds United Football Club, Elland Road, Leeds and on May 15 at The Premier Inn, Trafford Park, Manchester. Both sales start at 12.30pm.
The catalogue is available to view at www.eddisons.com/auctions
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