Archive for November, 2011

Andrews & Robertson’s first sale of 2011

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Welcome to our opening catalogue of 2011 bringing 105 keenly guided properties to the market on behalf of motivated vendors offering opportunities for adding value or attractive income streams.

Our February 2011 auction brings 105 keenly guided properties to the market on behalf of motivated vendors offering opportunities for adding value; attractive income streams; or long term ownership or occupation.

Everyone accepts this year will be challenging: funding remains highly problematic for potential buyers. We know of many people who wish to be more active in the market, but are frustrated by a lack of finance.

This year we anticipate more stock will come to the market offering great potential to investors with access to funds. Those with experience know these are the times to make good acquisitions that become very profitable on market recovery.

Our February catalogue includes a versatile mix of stock on behalf of vendors including:

Lot 16: 33 Grosvenor Terrace, Camberwell SE5 0NN – Freehold four floor, three bedroom end of terrace house. Offered on behalf of the London Borough of Southwark.

Lot 50: 20 Avenue Road, Tottenham N15 5JH- Freehold three floor semi-detached house arranged as 11 units (four units vacant, 7 units let) producing approximately £62,920 per annum. Offered on behalf of the LPA Receivers.

Lot 65: Home Farm, Tidworth, Wiltshire SP9 7AQ – Freehold detached period farmhouse, four freehold semi-detached cottages plus a range of traditional and modern farm buildings and land on a site area of approximately 8.85 ha (21.87 acres). Offered on behalf of Defence Estates.

Lot 71: Buffalo Joes, Pipewellgate, Gateshead, Newcastle, Tyne and Wear NE8 2BJ – Substantial freehold detached building previously used as a bar/nightclub with potential for alternative uses or redevelopment (subject to consents) with an approximate area of 500m2 (5,380ft2). Offered on behalf of the administrators.

We hope you find something of interest. Legal packs are available and can be downloaded on-line. Should you require additional support please contact us on 020 7703 4401 or 0207 808 8530. We look forward to seeing you at London’s Grand Connaught Rooms on 16 February.

Robin Cripp, Chief Executive and Senior Auctioneer
T: 020 7808 8530
E robincripp@a-r.co.uk

Andrews & Robertson’s Eighth sale of 2011

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Welcome to Andrews and Robertson’s eighth and final auction catalogue for 2011 which brings to a close a year of global turbulence and uncertainty.

The sense of widespread economic volatility has prompted cash rich individuals at home and abroad to look for safer havens to invest in so their enthusiasm for property prior to, during and after our auctions has remained reassuringly high.

Our latest auction raised £13m pushing revenues raised by Andrews & Robertson, one of the UK’s top four auction houses, to just under £100m so far this year and an average success rate of 71%. In addition our comparison of average prices showed our lot size for 2011 averaged at £195,350 against the £164,000 raised by the UK’s market leading residential auction house.

In today’s market, vendors are looking to instruct firms with experience, knowledge and commitment. We take pride in working hard on our client’s behalf and put their interest first. This means taking their individual circumstances into account rather than focusing primarily on our success rates, without compromising either.

In the year to date we have sold properties to the value of nearly £12 million in post auction sales, demonstrating the depth of our commitment to securing a sale for our clients long after the gavel has fallen.

Andrews & Robertson have specialised in the London property market for more than 100 years giving us an unrivalled depth of insight and a value-added service for our clients that is second to none.

This year we have seen consistently high levels of demand and competition for unmodernised homes and flats in desirable London locations, and in the South East of England. But there has also been robust demand for well priced secondary investment stock and properties with potential to add value.

Our October auction also saw several high value lots sold for prices well above guides including the largest lot of the day: a highly reversionary investment comprising four freehold semi-detached houses arranged as 30 self contained flats in Gleneldon Road, Streatham. The investment produced £174,000 pa and was sold to a local investor for just over £2.4m off a guide price of £2.3m.

Our 8 December auction at London’s Grand Connaught Rooms brings 93 lots to the market. We would like to draw your attention to a few of them:

2 Hopetown Street, Spitalfields, E1: Freehold Un-modernised Three Bedroom House located just off Brick Lane. Guide Price:£525,000+

65 Grosvenor Park, Camberwell, SE5: Substantial Freehold Four Floor Terraced House offered on behalf of the London Borough of Southwark. Guide price: £475,000+

24a Florian Street, Putney, SW15: Freehold Single Storey Café in a Sought After Location producing £10,000 per annum. Guide Price:£65,000+

Land and Former Sports Pavilion Burgoyne Heights, Dover: Freehold Former Playing Fields and Sports Pavilion of approx. 1.383 hectares (3.48 acres) offered on behalf Defence Infrastructure Organisation. Guide Price: £15,000+

20 Buckingham Road, Borehamwood, Hertfordshire: Freehold One Bedroom End of Terrace Bungalow – Offered on behalf of Affinity Sutton. Guide price: £80,000+

17 Kingston Road & 19 Bath Road, Edmonton, N9: A Pair of Freehold Two Bedroom Terrace Houses – Offered on behalf of Enfield Council. Guide Price: £100,000+ and £80,000+ respectively

Flats 10 & 131 Bridge Court, Stanley Road, South Harrow, Middlesex: A Pair of Two Bedroom, Two Bathroom Self Contained Flats producing a combined income of approximately £27,600 per annum. Guide Price: £170,000 + each

To quote Warren Buffett “You want to strive to do your best. It is too demanding to expect perfection in yourself.”

We look forward to seeing you in the room.

Robin Cripp
Chief Executive & Senior Auctioneer

26th October Post Auction News

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Prices on London postcodes harden at Andrews and Robertson’s October auction.

A general shortage of well priced quality residential stock bearing London postcodes pushed prices well above guides at Andrews and Robertson’s 26 October auction sparking robust bidding between owner occupiers and investors.

Sums spent at the Grand Connaught Room, WC2, event closed at almost £13m, and strong demand post auction pushed success rates to 72% within hours. The latest results push totals raised by Andrews & Robertson, one of the UK’s top four auction houses, to just under £100m so far this year, with an average success rate of 71%.

Several big ticket items were among the highlights of the day, but prices averaged at £196,000. There was healthy competition for fresh to market local authority lots, receivership sales, vacant property with potential to add value through refurbishment or development, as well as tenanted flats and houses.

Robin Cripp, senior auctioneer, commented: “As economic instability continues to cause anxiety in the wider markets buyers are looking very closely at property in London locations and have faith. This geographical area is our home ground.

“Andrews & Robertson have specialised in the London property market for more than 100 years and we believe this is an area in which we can offer clients a value-added service.”

The busy room saw the gavel fall on:

  • The largest lot of the day: a highly reversionary investment comprising four freehold semi-detached houses arranged as 30 self contained flats in Gleneldon Road, Streatham, SW16. It was producing £174,000 per annum and sold to a local investor for £2,415,000 off a guide price of£2.3m.

Other highlights included:

  • Two flats in Kings Avenue, Clapham: offered on behalf of the London Borough of Lambeth and guided at £510,000 for the pair. This lot stirred up serious interest prior to the auction with 26 viewings, culminating in some spirited bidding before the sale and achieving £602,000.
  • Professional buyers looking for an opportunity to add value, chased a freehold block in Purley Court, Brighton Road, Purley. The detached block of 24 flats, 23 of them sold on long leases and 1 flat occupied by a regulated tenant, had planning permission for an additional floor to providing a further six flats.Guide price of £450,000: sold for£475,000.
  • 26 Corringham Road, Wembley: a detached house offered on behalf of the treasury solicitor. Located in a good residential area with more than 50 viewings made by owner occupiers and investors. After lengthy and competitive bidding it sold for £408,000 against a guide of£270,000.
  • Andrews & Robertson’s final auction of 2011 is held at The Grand Connaught Rooms, WC2 on Monday 8th December. We look forward to seeing you there.

Robin Cripp
Chairman and Senior Auctioneer

Commercial Property Deals – Industrial

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Unit 5, 55 Weir Road, SW19rimg0001.jpg

1,845 sq.ft (171.37 sq m)

 

Workshop/warehouse unit with good loading and parking provision.

 

 LET

 

 

 

Unit 9 College Fields Business Centre, SW19unit_9_college_fields.jpg

4,646 sq.ft. (431.43 sq.m)

Warehouse/Industrial unit.

 

LET

 

 

 

 

 

  

 

 

Unit 36 Wates Way, Willow Lane, Mitcham rimg1158.jpg

7,997 sq.ft. (742.90 sq.m)

Workshop premises with first floor offices.

 

LET

 

 

 

 

rimg1683.jpg

9 Lyon Road, SW19

 

3,872 sq.ft. (359.71 sq.m) + potential to expand

Light industrial/office space with small yard.

 

LET

 

 

Unit 15 Liongate Enterprise Park, Mitchamliongate_001.jpg

2,786 sq.ft. (258.49 sq.m)

Warehouse/office unit.

 

SOLD

 

 

 

 

46 Weir Road, SW19

130.jpg

11,323 sq.ft. (1051.93 sq.m) internal + 4,263 sq.ft. (429.49 sq.m) covered yard

Industrial warehouse unit, ancillary offices and large self contained yard.

 

LET

 

 

If you have a property you are looking to let, rent or sell,

CONTACT THE EXPERTS

020 8971 4999

24 High Street,
Wimbledon Village,
London SW19 5DX

Tel: +44 (0)20 8971 6780
Fax: +44 (0)20 8946 3683