Leeds office investment set for auction
AN office investment in Leeds is being offered for sale for £1.25m at an auction next month.
Evolution House and Bevan House on Springwell Road in Holbeck produce combined annual income of £271,985 from tenants including Leeds City Council, NHS and NPS.
The guide price is more than £1.25m, reflecting an initial potential yield of over 21%.
Eddisons says the decision to offer the lot in London rather than at its Leeds sale on July 10 is to maximise the sales potential.
Tony Webber, director and auctioneer at Eddisons, said: “This is a major investment and asset management opportunity which we feel will appeal to London based investors looking to add northern stock to their portfolio.”
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 and produce annual rent of £105,000. The guide price is £875,000 to £900,000.
Meanwhile, 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 at a passing rent of £23,837 a year and is guided at £160,000 to £180,000.
Elsewhere, the former Bradford Playhouse in the Little Germany area of the city which includes a 290 seat auditorium has a guide price of £175,000.
In total Eddisons has attracted 111 lots for its three day sale which also includes a date in Manchester (July 8th).
