Any doubts that the Prime Minister has about the attractions of the water industry’s assets to the private sector would have been dispelled if she had attended Barnard Marcus’ commercial sale on October 10 at the Kensington Hilton, W11.
Amid much interest and competitive bidding, 25 of the 26 properties entered by Thames Water Estates sold, raising a total of more than £2.5m.
Properties on offer included a listed 14th-century manor house on 1.5 acres of land in Godalming, Surrey; a water tower on 0.13 acre, also in Godalming; and plots of land ranging from 100 sq ft to 7.8 acres in locations across the Home Counties.
Unfortunately for BM, that success did not repeat itself in the general commercial catalogue also offered at the sale. Of the 59 lots available, 22 sold to raise a total of £4.2m.
Overall, Robin Cripp, auctioneer at Barnard Marcus, saw the sale as “a very interesting affair”.
While pleased with the Thames Water Estates sales, he feels that the main catalogue’s result spelt out the harsh truth for overambitious vendors.
“Buyers are still interested in good-quality properties that have not been hawked around the market — or where the reserves are set at sensible levels,” is his firm advice.
