Post Summer Property Auction Results
Our first sale after the summer break was a welcome return to the market with a 70% success and several post-sales in hand.
The highest price of the day was £702,000 for a freehold vacant house in Streatham offered on behalf of Receivers, followed by a freehold plot of land in Manor Park E12, one of several offered on behalf of JCDecaux, which fetched £649,000.
With most of the JCDecaux lots being offered for the first time in living memory, there was high spirited bidding, including a 940 Sq Ft plot in Northampton with a disclosed reserve below £100, which sold for £19,500, and a 105 SqFt sliver of land in Hull which sold for £4,500.
A long leasehold commercial investment in Edgware let at £29,500 pa (rising) to a well-established baker sold for £526,000 showing an initial gross yield of 5.6%.
As an alternative to the heavily taxed buy-to-let market, commercial properties in Rainham and Hendon sold for £311,000 and £160,000.
Over the next couple of months, our hope is that the market will take any punches it is given, and we welcome offering a selection of opportunities at our next sale on Monday 28th October with the catalogue online 10th October.