Willmotts held two days of sales at the Mart last week featuring a mix of residential and commercial properties.
Highlights of the residential sale included The Goodwood Hotel, 38-40 Tavistock Place, London WC1, which was sold with vacant possession for £311,000. The two interconnecting buildings total 10 living rooms and four bathrooms.
At Belgravia House, 2 Halkin Place, Belgravia, London SW1, shown here, a roof space with detailed planning permission for one penthouse and an application pending for a second, leasehold ground rents and a parking space were on offer. Current income is £1,170 pa, rising to £1,645 pa in March 1986, and the price realised was £95,000.
A house on the Isle of Wight — Shanklin House, 16 Prospect Road, Shanklin — divided into five flats, with four let, producing £2,894 pa, and one vacant was knocked down at £41,000.
In the commercial sale, 4-28 Varcoe Road, Southwark, London SE16, a freehold industrial headquarters/distribution depot with vacant possession was the most valuable lot. On ground and four upper floors, the building has about 15,600 sq ft and was sold for £200,000.
The commercial sale was a little patchy and only 12 of the 26 lots sold in the room. One went prior to the sale and three lots were withdrawn before bidding started.
As a general rule, it was the more valuable lots which failed to sell. At 1-3 Hanworth Road, Feltham, Middlesex, a 2,000-sq ft office investment on lower ground, ground and two upper floors let to the Fibre Building Board Organisation at £16,000 pa was withdrawn and is now available at £156,000, which would show a 10.3% yield.
Total realisation from the two catalogues was £2,875,530.
