£10m raised at May Auction
Our sale on 21st May raised over £10m from a room where there was mixed bidding with strong demand for some lots and others just not quite reaching their reserve price.
The highest price on the day for a single lot for £1.16m for a restaurant and eight flats in Hendon NW9 producing almost £93,000 per annum to show an initial 8% gross return.
Three industrial units in Tonbridge sold for £990,000, a gross yield of just under 8.5% and a part vacant residential/commercial unit in Ilford producing £19,740 a year sold for £385,000, an initial yield of 5% with scope to increase.
In Ealing W5 a vacant restaurant with residential potential sold for £814,000 and an A3 shop with two floors of residential above, close to the new Tottenham Hotspur stadium on White Hart Lane, sold for £480,000.
On the residential front, a house in Stoke Newington arranged as two flats, with one let on a regulated tenancy sold for £775,000, a vacant 2-bed house in Leyton E10 sold for £350,000 and a house in N17 let on an AST at £12,900pa sold for £250,000, just over a 5% yield.
A selection of small sites offered on behalf of JCDecaux generally sold well and a portfolio of 20 freehold ground rents all sold for above their reserve price.
Full results and available unsold lots can be found here.
The 16th July catalogue will be online 26th June. So, if you are thinking selling please do contact us for what is usually a popular sale before the summer break - 020 7637 4000.