Welcome to our April catalogue and our second auction under the andrew scott robertson banner.
We opened our calendar with our new corporate identity and a strong result, with the February sale producing in excess of ?22m and an 82% success rate. So it is with great pleasure that we bring our latest catalogue to the market, comprising over 101 residential and secondary commercial lots, with the chance to add value by active management or refurbishment and development.
As ever the vast majority of our stock is located in the regions regarded as the most desirable by buyers: London and the South East of England. This month however, we are also offering a number of opportunities to purchase in other cities including Birmingham.
A significant proportion of the residential lots on offer are vacant properties, new to the market after many years in the same ownership, many are sited in desirable locations for occupation or investment and are ripe for improvement or development.
This April we are delighted to be offering lots on the instructions of: The London Boroughs of Richmond and Lambeth, as well as LPA receivers, The Treasury Solicitor, Affinity Sutton and a second major housing association, Mountview Estates Plc, Defence Infrastructure Organisation, Mortgagees, Executors, and private and public limited companies.
Our 19th February auction was met by a packed room at the Hotel Russell, London, producing multi-bidding on properties perceived to offer potential for improvement or in desirable locations. Although investors favoured residential lots, there were real signs of uplift in demand for secondary commercial investments in southern locations offering attractive yields.
At a time when cash on deposit in the bank is returning very low returns it is little wonder that growing numbers are turning to property investment to make the most of their equity. AST yields averaged at 9.2%, Regulated Tenancy investments returned an average of 5.17% and Ground Rents achieved an average of 5.48% at our February auction.
As the latest Essential Information Group figures show the volume of property sold nationally at auction rose by 8% last month compared to 12 months earlier, to levels not seen since the height of the boom six years ago. So these are exciting times and a sign of renewed confidence in our method of sale which is extremely encouraging.
With this in mind, may we draw your attention to a selection of lots on offer at our April auction:
53 & 55 North Street, Clapham SW4: Two freehold terrace houses to be offered separately by order of the London Borough of Lambeth. Guide Price: ?535,000 + each house.
Flat 7 Conifer Court, 25 Putney Hill, Putney, SW15 6BE: A long leasehold second floor purpose built two bedroom flat, offered with vacant possession in a desirable location situated between St John’s Avenue and Carlton Drive and a short distance from Putney railway station and East Putney underground. Held on lease for 125 years from 25 March 2002 at a ground rent of ?450 pa. Guide Price:?320,000 +
Flat 2, 7 Blandford Street, Marylebone, W1U 3DD: A long leasehold second floor self contained flat in a sought after location between Gloucester Place and Marylebone High Street. The one bedroom property has been in the same ownership for more than 20 years and is being offered with vacant possession. Guide Price:?485,000 +
Cruisemaster Yard & Boatyard Premises, Eel Pie Island, Twickenham TW1 3DY: A freehold boatyard and premises investment on Eel Pie Island, at the heart of the River Thames at Twickenham. River frontage 15.5m (50ft) with a site area of 707.5 sq m (7,612 sq ft). It is let on a five year lease from 22/06/2006 at a rental of ?5,000 per annum. Guide Price: ?135,000 +
776-778 Stratford Road, Sparkhill, Birmingham B11 4BP: A receivership investment sale. The property comprises two intercommunicating freehold buildings arranged as a double shop unit let to Ladbrokes with a first floor self contained office suite that has been sold on a long lease. Guide Price: ?200,000 +
25 Granville Park, Blackheath SE3 7DY: Freehold ground rents secured upon four self contained flats including one with a valuable reversion in approximately 25 years and a second with a reversion in approximately 87 years. Guide price: ?60,000 +
Legal packs for this sale are available online and can be downloaded from our website: asr.3mil-demo.co.uk . If you require any further help or advice please don’t hesitate to contact us on 0207 703 4401.
We look forward to seeing you in the room.Posted in ASR News
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