TRENDS
Andrews & Robertson’s final auction of 2011 was held at The Grand Connaught Rooms, in London on 8th December. Sales closed at 74 per cent slightly above the 73 per cent current national average. Post sale demand pushed figures to £9m, and auctioneer Robin Cripp believed this “would rise to over £10m and 80 per cent within days”. Robin said, “A most notable change in buying trends at our final auction of 2011 was the upbeat demand for keenly priced properties in locations beyond the Capital and there was tremendous interest in the catalogue prior to auction. “Throughout the year
property with London postcodes have dominated buyers’ lists, but it was interesting to see at this auction that there was also demand for homes and commercial stock in locations
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around the UK including Norfolk, Tyne and Wear, Lancashire, County Antrim, West Midlands, and Ayrshire for an average price of around £60,000 that made good returns in rental yields. “This shows buyers are
receptive to tapping into the potential of a wider spectrum of opportunity than they have been for some time. It also
tells us that if stock is priced correctly then it will sell.” There was continuing strong demand for assets in London and the South East demonstrated by the £570,000 sale of a vacant freehold four storey house in Camberwell, SE5, which was offered with a guide of £475,000 plus on behalf of Southwark council.
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COMMERCIAL
Huge demand at Andrews and Robertson auction Acuitus auction raises £18m
Buyers targeted regional investments and receivership lots as Acuitus’s sixth and
final commercial property auction of the year raised just under £18m. Acuitus auctioneer, Richard
Auterac, said, “Throughout the year investments in London have been predominantly at the top of buyers’ lists, but it was interesting to see that there was also demand for substantial investments in major cities.” Highlights included the £1.25m
sale of a public house in Wembley let to Barracuda Pub Company at £200,000 above its guide and a freehold shop let to Ladbrokes in Chatham sold for £772,000 at a yield of 6.7 per cent and 25 per cent above its guide price. The success rate of the auction
was 61 per cent and the average sale price was £850,000.
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