Residential investments are increasing in value and often going over 65% vacant possession value at auction, according to north London-based Hillyers.
The firm cites a parcel of six terrace houses in New Southgate, London N11, and in East Barnet, Hertfordshire. One of these was withdrawn, owing to the death of the tenant, but the others all sold in the room. The two houses in East Barnet, at 29 Ridgeway Avenue and 18 Windsor Drive, both let at £1,326 pa, were knocked down at identical amounts, £39,000.
Hillyers say that houses with conversion potential are best sold at auction. No 1 Shirlock Road, Gospel Oak, London NW3, an end-of-terrace house on basement, ground and first floor, part let on non-registered tenancies, was knocked down at £83,500. The property offers potential on reversion.
At 35 Moundfield Road, Stamford Hill, London N16, a vacant house was reserved at £49,000. It made £80,000 in the room.
Hillyers’ next sale is on April 23 and features 111 lots. The National Freight Consortium are vendors on 16 of these.
