Barnett Ross sale hits 81%

Barnett Ross raised £10.4m at its 24 October sale, achieving a success rate of 81%. Notable sales included a property on the High Street in New Malden, Surrey, with a ground-floor Korean restaurant and a two-storey flat above, let on one lease producing £28,000 pa.  It was offered with a reserve of less than £300,000 on behalf of executors. After very competitive bidding in the room it sold for £526,000 (a gross yield of 5.3%).  The firm has achieved several successful sales of lots on New Malden’s High Street in recent auctions.  Another popular lot was a freehold ground-floor café with basement on Boundary Road, St John’s Wood, NW8, producing £22,000 pa. It sold for £380,000 (gross yield 5.8%) – £140,000 above the reserve. The highest price achieved was for a mixed-use lot on St Albans Road, Watford. The block of five ground-floor shops, five flats and three garages, producing £101,850 pa, sold for £1.5m (gross yield 6.9%).  Five lots were withdrawn prior to the sale at the Montcalm Hotel, W1, from a catlogue of 57. To send feedback, e-mail julia.cahill@egi.co.uk or tweet @EGJuliaC or @estatesgazette