Andrews & Robertson’s Sixth Sale of 2012

Welcome to Andrews and Robertson?s September catalogue bringing 128 residential and commercial properties to the market on behalf of LPA Receivers, Trustees, Executors, Local Authorities, Private Vendors and Property Companies.

During the thrills and excitement of the Olympics and Team GB’s wonderful summer of achievement our auction team have been working hard to bring a wide range of vacant and tenanted lots in locations including London and the regions to The Grand Connaught Rooms on 24 September.

Following the exhilaration of the London Olympics which proved a wonderful success, great praise must be given to all the athletes who took part and made us all so proud of Team GB.

But now we must focus again on business. In the first half of 2012 demand for residential properties remained high, and outstripped those of the commercial sector. Properties located in London and the M25 were especially popular.

However for correctly priced stock including secondary commercial investments in locations buyers know well, we are seeing yields of around 7% and witnessing a robust appetite for asset management opportunities.

Vendors have become increasingly realistic when pricing their property for sale in line with concerns about the economy and tenant demand. This now presents buyers with great opportunities to acquire property with in-built value.

Demand for virgin stock offering opportunity to enhance value by development or refurbishment remains at a peak. So we are delighted to be offering a portfolio of 19 properties in Swindon on behalf of Swindon Central Properties Ltd, a firm established in 1899.

Swindon is located midway between Bristol and Reading and just 81 miles west of London. Major employers include Honda, BMW/Mini, Motorola, Dolby Labs and WH Smith distribution centre and HQ. It is also a centre for the financial services and pharmaceutical industries including Nationwide Building Society and Zurich Financial Services, Canada’s Patheon and USA based Catalent Pharma Solutions and French firm Vygon.

The portfolio has been broken up into 18 lots and includes a mixture of commercial and residential properties. It also includes four shops with residential upper parts and a car park in the town itself with 10 parking spaces. The portfolio produces a total income producing?166,176 per annum with vacant possession of one flat and three shops.

We would also draw your attention to the following lots:

• Lots 1 and 2 – 25& 39 Villa Road, Brixton, SW9: Two freehold five floor vacant houses being sold separately on behalf of The London Borough of Lambeth. Both properties are split into two self contained maisonettes and are offered with vacant possession. Each offered with a Guide Price of ?575,000 +
• Lot 26 -1b Albert Court, Prince Consort Road, Knightsbridge SW7: This long leasehold 80 sq metre two bedroom flat is let at ?19,000 per annum with a rent review in 2014 and a valuable reversion in 12 years. It is located in a prestigious portered mansion block that is adjacent to the Royal Albert Hall and opposite the Royal College of Music. Guide price: ?550,000 – ?600,000
• Lot 46 – Forest House, 26 Westgate Bay Avenue, Westgate on Sea, Kent, CT8: A substantial “Arts and Crafts” freehold detached house arranged as three self contained flats. This part vacant residential investment offers huge development potential and is offered by order of the LPA receivers. Guide Price: ?280,000 +
• Lot 49 – 90 De Beauvoir Road, Islington, N1: Leasehold Four Floor Office / Studio Building with Forecourt Parking – Part Vacant Investment producing?167,700 per annum with vacant possession of Four Studio Units -Offered by order of the LPA Receivers. Guide Price: ?485,000 +
• Lot 65 – North Lodge, Whitewebbs Road, Enfield EN2: Freehold Detached Grade II Listed Lodge House -Offered by order of The London Borough of Enfield. Guide Price:?225,000 +

We look forward to seeing you in the room.

Robin Cripp
Chief Executive& Senior Auctioneer

Posted in ASR News