london online auction
£46.5 million at Auctions get a great reaction
Allsop Auction
Colliers CRE used their Evolvin hours had elapsed without a and magnitude has been
HomePort system to power a bid on any of the lots. staged and it may provide
A happy two day real-time on-line auction for Simon Rigall, Head of a blueprint for the future in
auction secured the disposal of three sites, and Auctions at Colliers CRE said dealing with this type of high
sales of £46.5m an adjoining site, on behalf of “I believe this is the first time value but complex asset.”
sale at Allsop’s the Nuclear Decommissioning that an auction of this type Sean Downey, Development
June auction Authority (NDA), including Manager at Evolvin said,
in London. lots at Wylfa, Oldbury and
52 regulated tenancy, 28
‘This is the first
“We were given a very short
Bradwell nuclear facilities, time scale to deliver a system
assured shorthold and 5 assured resulting in a total transaction
time an auction
that met the needs of the
investments as well as 46 ground value of £465 million. NDA. Our ability to deliver in
rent investments. Colliers CRE’s auctions
of this type and
time was only possible due to
Allsop partner and auctioneer, department was appointed
Gary Murphy commented,
magnitude has
our existing use of the Evolvin
by the NDA to set up and HomePort system, their
“This was the best selection of manage the online auction,
been staged and
expertise at building secure
income producing stock available who in turn used Evolvin as
to the private investor in one sale
it may provide
transactional solutions – and
their technology partner. a big team effort.”
for many years. Notable was the The auction ended with the
a blueprint for
concentration of 52 regulated binding ‘fall of the auctioneers
www.propertydrum.com/
investments, which established an hammer’ once a period of 24 the future.’
articles/auction/evolvin
average yield of 3.5 per cent from
45 sales (86 per cent). This market
is extremely sensitive to buyer
perceptions of capital growth.
A year ago, when house prices
were in obvious decline, investors
in the regulated market sat on
their hands. This result is a clear
indication that confidence has
been restored. In addition, against
the background of 0.5 per cent
yield interest rates, yield has now
become a more significant driver
in this specialised market.”
Another sensitive sector,
development land, also drew
renewed interest demonstrating
clear signs of recovery. Nine
separate opportunities sold, some
on behalf of BRB (Residuary) Ltd
(formerly British Rail). For example,
a 0.95 acre site in Maidstone with
planning permission for five houses
raised £430,000 for receivers from
a guide of £125,000 to £150,000.
Allsop’s next residential auction
sale will be held on 14 and 16 July
at The Cumberland Hotel, Marble
Arch, London, W1.
www.propertydrum.com/
articles/auctionlondon
cambridge
Thatch should do nicely!
Cheffins’ recent sale offered, went down at £134,000. It also shows the effectiveness of
among many interesting lots, Total sales for their May auction the auction process.
a derelict two-up-two-down were £2.5 million from 27 lots. “We had strong competitive
thatched cottage in Horningsea, Auctioneer Simon Gooderham bidding among the 300 people in
Cambridge with a guide price said, ”It’s clear that the market is the saleroom and the deals were
of £40-60,000. Apparently the improving in the Cambridge area concluded on the spot.”
cottage’s attractions of a decent and we are experiencing increased
plot and river frontage proved demand as confidence returns to
www.propertydrum.com/
irresistible and the gavel finally some sectors of the market.
articles/cambridge.
PROPERTYdrum JULY-AUGUST 2009 65
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