Andrews & Robertson

Andrews & Robertson posts a strong 82% September sale

Next Auction - Thursday 2nd November 2017
Start Time - 12:00
 

Andrews & Robertson posts a strong 82% September sale

Written By Michael Atwood | 26 September 2016

Andrews & Robertson posts a strong 82% September sale  

A busy sale room and confident bidding has delivered a strong set of results from our September auction, held this week at The Grand Connaught Rooms, London, WC2B. Our commercial and residential property auction raised in excess of £11.9m from the 84 lots on offer with several significant lots close to exchange post auction. The 82% success rate achieved is one of the highest posted by the UK’s leading auction houses this month.  

The largest lot sold under the hammer was a freehold three floor semi-detached house in Cornford Grove, Balham, previously used as a care home and offered with full vacant possession. Bidders spotting the development potential pushed the lot well above it’s guide of £950,000, selling for £1,140,000.

Highlights of the sale included:

 

Lot 5 - 14 Cornford Grove,
Balham, SW12

freehold three floor semi-detached house previously used as a care home and offered with full vacant possession. Bidders spotting the development potential pushed the lot well above it’s guide of £950,000, selling for £1,140,000.

Sold: £1,140,000

Lots 19 & 20 - 1 & 2 North Lodge Farm Cottages, The Ridgeway, Potters Bar
A pair of freehold semi-detached farm cottages in Potters Bar, Hertfordshire, EN6, sold on behalf of Enfield Council. Situated in a unique semi-rural location surrounded by woodland, yet having the benefit of excellent access in to London, the properties achieved a combined hammer price of £810,000, £110,000 above their guide price.

Sold: £810,000

 

Lot 31 - 7 Richmond Place,
Brighton, East Sussex, BN2

A freehold four floor terraced building arranged as four self-contained flats and offered with full vacant possession. Guided at £390,000, competitive bidding saw the lot achieve a sale price of £520,000.

Sold: £520,000

Lot 41 - 76-84 Crayford High Street, Crayford, Kent, DA1
A freehold detached light industrial building arranged as
10 self-contained units
with a yard area and parking.
Guided at £950,000,
the lot sold for £1,050,000.

Sold: £1,050,000

 

A portfolio of 42 freehold ground rents were offered individually and all were sold. Of the 42, 8 had some reversionary value. The total income was £21,982 per annum and they achieved £916,250, a yield of 2.12%.

Speaking after the auction, Andrews & Robertson Chairman Robin Cripp said: “This was a very encouraging sale and gives us plenty of reason for continued optimism for the quarter ahead. We are seeing sustained investment demand across all sectors, and in particular, for development opportunities, where if the lot is priced sensibly, the buyers are there regardless of whether planning permission is in place.”

Significant sellers at the sale included Enfield Council, Lambeth Council, The London Borough of Wandsworth, Affinity Sutton, The Hyde Group, Wandle Housing Association, Currells, P&P surveyors, property companies, public bodies, receivers, charities and individual investors.

Andrews & Robertson’s next auction will be held on Monday 31st October 2016 at The Montcalm Hotel Marble Arch W1H and entries are now invited.

If you are considering selling a residential or commercial property then our dedicated auction team would be delighted to discuss the best strategy for you with no obligation. For further information or for an appraisal of your property’s suitability for auction please contact 020 7703 4401 or email auctions@a-r.co.uk.

Buying at auction

To download our Guide to Buying at Auction click the link below

Download Guide

Enter your property

If you would like to include a property in one of our auctions or obtain an auction assessment please call us on:
+44 (0)20 7703 4401

Or send an email