Healey & Baker scored a 100% success at the London Auction Mart last week, selling all 12 lots in their catalogue. Nine sold under the hammer and two sold prior, with one going afterwards for a total realisation of £6.75m.
The catalogue featured two supermarkets let to J Sainsbury, one at 51-57 Kingsland High Street, Kingsland, London E8, and the other at 8 and 14-20 Fortis Green Road and 2-6 Athenaeum Place, Muswell Hill, London N10. The Kingsland property is let at £150,000 pa with a review in 1992 and was knocked down at £1.61m; the Muswell Hill store produces £146,900 pa, also with a review in 1992, and went for £1.59m.
A Marks & Spencer store at 135-139 High Road, Ilford, Essex, shown here, was knocked down at £775,000. The current income is £26,200 pa.
H&B were also offering warehouse investments, including units 1 and 2 Midfield Road/ Mitchelston Drive, Mitchelston Industrial Estate, Kirkcaldy, Scotland. The units are let to J H Sankey & Son and Boots the Chemist for a total of £42,160 pa and the lot was knocked down at £300,000.
Auctioneer Richard Pryce, commenting on the sale, said: “I am completely satisfied and pleased with the prices achieved for the vendors. While the auction market has in the past concentrated upon properties of secondary quality, this auction is added confirmation that investments of prime quality now attract excellent demand when offered under the hammer.”
Healey & Baker’s next sale is on May 6 and the catalogue already contains investments in Sheffield, Aylesbury, Leicester, Barnsley, Bolton, Swansea and Southend on Sea.
