A disused water tower near Wakefield and a grade II listed former Victorian hotel building in Cleckheaton are among over 60 lots included in Eddisons’ next Leeds property auction, which are expected to generate in excess of £5 million.
The auction, which takes place at Elland Road Stadium on April 21, includes a number of unusual lots, including the old Midgley Water Tower at Flockton, near Wakefield, which is up for sale as a development opportunity with a guide price of just £4,000.
Monarch House on George Street in Wakefield city centre, which is a 9,000 sq ft landmark building suitable for division into two self-contained business units, will also go under the hammer with a guide price of £260,000.
The George and Mead Hall in Cleckheaton town centre, which in the 19th century was an imposing hotel, has fallen into disrepair and has a guide price of £200,000-plus. The building covers almost 7,000sq ft and has car parking and extensive landscaped grounds.
Glenn Levison, associate director at Eddisons , said: “We have a diverse array of properties and land going under the hammer in our spring auction which are generating plenty of interest. Property investment opportunities are in particularly high demand at the moment and the new stamp duty being levied on Buy to Let and second homes does not seemed to have diminished buyers’ appetites.”
He added: “Unusual properties always attract plenty of interest and the water tower at Flockton has already generated lots of enquiries. We are expecting it to go to an adventurous winning bidder, probably for rather more than its £4,000 guide price.”
Investment opportunities in the auction include a row of three Cleckheaton shops with two apartments above, at 28-36 Westgate. The shops are fully let to a recruitment agency, a tattooist and a beauty salon and the residential accommodation is also fully tenanted, generating a total rental income of £25,500 a year. The guide price is set at £275,000.
A two-storey, 4,000 sq ft building at 93-95 Main Street Garforth, Leeds, is also included. The premises is fully let to Barclays Bank on a five year lease until 2020, producing a rental income of £23,300, and with a guide price of £350,000 plus.
The auction will take place on April 21 at the Norman Hunter Suite, Leeds United Football Club, Elland Road in Leeds.
The full catalogue is available to view at www.eddisons.com/property-auctions.