On the eve of a major sale for Boots, Erdman’s chief auctioneer Tony Trump was faced with a dreadful dilemma.
His prized Aston Martin DB4 Mk 2 Superleggera Grand Touring Coupe had been entered for auction by Christie’s and, as Fate would have it, the sale was to be held on March 14 in Beaulieu, Hampshire — when he would have to be on a rostrum in London.
Conscience triumphed, of course, and the Methven Suite at Centrepoint witnessed an energetic Tony Trump selling every lot put up for sale and raising £9.5m in the process.
That any of the 28-lot catalogue actually reached the rostrum is a testimony to the resolve of both vendor and auctioneer. Some 27 bids were made prior to the auction for the 28-lot catalogue — all offered as freehold retail investments occupied by Boots. “We advised against sale and it paid off,” said a jubilant Mr Trump.
The advice was well-founded: during one working week prior to the sale of the auction department received in the region of 2,000 telephone inquiries about the Boots’ properties. But only one offer was considered worthy of acceptance and a 7,760-sq ft property in Bristol producing £65,000 pa was sold prior.
The sale itself went at a cracking pace despite the occasional dimming of the lights for reasons best known to the Methven Suite’s lighting system.
Three lots went for more than £1m each and all sold very quickly. The first to break the barrier was a 28,768-sq ft property at 26-26a Market Place, Boston, Lincolnshire, producing £120,000 pa. After just a few seconds it sold for £1.31m.
The national appeal of the Boots chain was demonstrated by the sale of the next two £1m-plus properties in immediate succession.
The 25,394-sq ft property fronting Wind Street and Water Street in Neath, West Glamorgan, and producing £100,000 pa sold for £1.29m. The next lot, a 13,474-sq ft property at 54-58 Market Street, Crewe, producing £67,500 pa, sold for £1.04m.
The most exciting bidding of the day was provoked by a 6,993-sq ft property at 252-254 West Street, Sheffield, producing £26,000, with sublet space yielding another £8,000. The bidding opened at £180,000 and proceeded at a bewildering pace with Tony Trump fielding bids from all over the room. It sold for £281,000.
Mr Trump was delighted with the overall result, but even he was surprised by the high prices to which the packed room was prepared to rise in pursuit of the lots on offer.
On a personal level he was even happier with the result of the auction in Beaulieu: his Aston Martin sold for £16,000.
