Heated bidding sees lots fly at Barnett Ross auction
Barnett Ross sold 91% of its catalogue at its first auction of 2019, raising £10.3m.
The sale, which took place at the Radission Blu Portman hotel, W1, on 28 February, offered 43 lots.
Notable sales included 185 Town Road in Edmonton, N9, a vacant freehold mid-terrace factory/workshop, with potential for development, which sold for £938,000 – more than double its reserve, and Tally Ho Apartments in Kentish Town, NW5. The freehold ground rent investment comprising 33 flats, a supermarket and shop producing £5,400 pa, was offered with a reserve below £130,000. After a 197 bids, the lot was knocked down at £375,000 – almost triple the reserve.
Barnett Ross sold 91% of its catalogue at its first auction of 2019, raising £10.3m.
The sale, which took place at the Radission Blu Portman hotel, W1, on 28 February, offered 43 lots.
Notable sales included 185 Town Road in Edmonton, N9, a vacant freehold mid-terrace factory/workshop, with potential for development, which sold for £938,000 – more than double its reserve, and Tally Ho Apartments in Kentish Town, NW5. The freehold ground rent investment comprising 33 flats, a supermarket and shop producing £5,400 pa, was offered with a reserve below £130,000. After a 197 bids, the lot was knocked down at £375,000 – almost triple the reserve.
A mid-terrrace building comprising a ground-floor shop with flat above in Dagenham, Essex, also sold well, fetching £304,000 – a 3.5% yield.
Auctioneer Jonathan Ross said: “There were certainly no Brexit jitters in the auction room as investors fought hard to secure a number of popular, sensibly reserved, commercial lots. It is clear that the appetite for the properties that we are offering remains remarkably strong.”
The next Barnett Ross Auction will take place on 16 May.
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