SarahBell Report post Posted February 23, 2011 Don't normally look at these results but they're broken down into % sold by category.. (Don't know how to insert html table of results) Allsop's Residential Auction team kicked off 2011 with a £45.5m two day sale on 15th and 17th February posting an 83% success. This compares with a £40m total in February 2010. "It seems that auction buyers have returned to the market with determination" said auctioneer and partner, Gary Murphy. "We were encouraged by a strong attendance from the start with enthusiastic bidding across all sectors." Day One saw a total of 23 regulated tenancy investments go under the hammer. Strong competition between the main players in this specialist market ensured that 22 sold at strong prices (96%). Ground rents sold well, particularly houses subject to shorter unexpired lease terms. A selection of 45 lots in the Midlands on behalf of Network Rail drew much attention. Streets of houses subject to assured shorthold tenancies were broken up to investors along with surplus sites of various shapes and sizes with potential for development. 40 Sold (89%). No less than seven housing associations were represented offering a total of 32 lots. 29 sold (91%). Seven local authorities offered 13 lots of which 10 sold (77%). And previous resistance encountered to stock in some parts of the North of England appears to have faded. "Towards the end of last year, we experienced a dip in success rates outside of the perceived safer areas of London and the South-East." said Murphy. "At this sale, we were selling Northern stock more easily. Confidence in the regions appears to be returning." http://www.auction.co.uk/residential/pastResults.asp?A=709 Highlights of the sale include: </font> Highlights of the sale include: Lot 66 - 40 Ashford Road (also known as 1 Hassop Road), Cricklewood, NW2 6RX BY ORDER OF RECEIVERS A freehold end of terrace building arranged to provide Four Self-Contained Flats. Three Flats subject to an Assured Shorthold Tenancy. One Flat Vacant. Sold: £875,000 Guide price: £700,000 - £750,000 Lot 70 - 83 Stoke Newington Church Street, Stoke Newington, N16 0AR BY ORDER OF A HOUSING ASSOCIATION Flying freehold mid terrace Grade II Listed Building Investment internally arranged to provide four self-contained flats. Sold: £1.03M Guide Price: £800,000 - £900,000 Lot 76 - 3-11 Stean Street, Dalston, London E8 4ED BY ORDER OF JOINT FIXED CHARGE RECEIVERS A freehold Light Industrial Unit occupying a site extending to approximately 0.048 hectares (0.12 acres). Planning permission for the construction of a five storey building comprising two B1 office units and fifteen residential units. Sold: £850,000 Guide Price: £500,000 - £600,000 Lot 98 - Coningham Road, London, W12 8BH BY ORDER OF METROPOLITAN HOUSING TRUST A freehold Building internally arranged to provide Four Self-Contained Flats. Sold: £795,000 Guide Price: £700,000 - £760,000 Lot 110 - 1-15 (Odd) Beckford Way, Maidenbower, Crawley, West Sussex RH10 7LT BY ORDER OF A HOUSING ASSOCIATION Vacant freehold detached block comprising a total of Eight Self-Contained Purpose Built Flats situated approximately 3.25 miles from Crawley town centre. Sold: £830,000 Guide Price: £625,000 - £675,000 Lot 117 - Royal Crescent Apartments, Canute Road, Southampton, Hampshire SO14 3FJ BY ORDER OF GEOFFREY PAUL ROWLEY AND NICHOLAS HUGH O'REILLY OF FRP ADVISORY ACTING AS JOINT ADMINISTRATORS OF RC SOUTHAMPTON LIMITED Freehold Partially Completed Block. Planning permission to provide a total of eighty eight self-contained flats and three commercial units together with sixty eight car parking spaces. Potential for alternative development schemes, subject to obtaining all necessary consents. The property was previously on the market by private treaty for over 2 years. Sold: Sold Prior Guide Price: £2M+ Lot 120 - Gate Quays, Marine Gardens, Margate, Kent, CT9 1RU BY ORDER OF JOINT FIXED CHARGE RECEIVERS Freehold building arranged to provide Thirty Six Self-Contained Fflats and Three Commercial Units, twelve flats subject to long leases. One flat subject to an Assured Shorthold tenancy. Twenty three flats and three commercial units vacant. Sold: £850,000 Guide Price: £650,000 - £850,000 Lot 165 - 1 Slagrove Place, Lewisham SE13 7HT BY ORDER OF THE LONDON BOROUGH OF LEWISHAM Freehold Buildings and Site. Site extending to approximately 0.166 hectares (0.41 acres) Possible potential for development subject to all necessary consents being obtained. Sold: £730,000 Guide Price: £450,000 - £500,000 Lot 214 - 102 Rossiter Road, Balham, London SW12 9RX BY ORDER OF L & Q A freehold Semi-Detached Building. Eight room accommodation. Possible potential for redevelopment subject to all necessary consents being obtained. Sold: £780,000 Guide Price: £425,999 - £450,000 Allsop's next Residential Sale will be held on 29th (provisional date) and 31st March at The Park Lane Hotel, Piccadilly London W1. Entries are now invited. Deadline 4th March. Quote Share this post Link to post Share on other sites
rantnrave Report post Posted February 23, 2011 Allsop's auctions? Has Kirsty finally seen the light??? Quote Share this post Link to post Share on other sites
Kilham Report post Posted February 23, 2011 Just slightly off topic, does anyone here subscribe to the eigroup site and if so do they consider it to be worth it?. Quote Share this post Link to post Share on other sites
The Knimbies who say No Report post Posted February 23, 2011 Not exactly what you'd call normal residential stuff! Thanks for posting, blocks of flats are so 2007.. Quote Share this post Link to post Share on other sites
Pauly_Boy Report post Posted February 23, 2011 Not exactly what you'd call normal residential stuff! Thanks for posting, blocks of flats are so 2007.. Nope, but it's a sign of builders/developers activities in London. Quote Share this post Link to post Share on other sites
eric pebble Report post Posted February 23, 2011 Nope, but it's a sign of builders/developers activities in London. And I reckon some of these purchasers are going to bitterly regret what they've done... Things are looking pretty ominous right now... The Banksters know this - hence they're not bothering to let anyone but the mad have a mortgage right now... Quote Share this post Link to post Share on other sites
6538 Report post Posted February 23, 2011 Don't normally look at these results but they're broken down into % sold by category.. (Don't know how to insert html table of results) Allsop's Residential Auction team kicked off 2011 with a £45.5m two day sale on 15th and 17th February posting an 83% success. This compares with a £40m total in February 2010. "It seems that auction buyers have returned to the market with determination" said auctioneer and partner, Gary Murphy. "We were encouraged by a strong attendance from the start with enthusiastic bidding across all sectors." Day One saw a total of 23 regulated tenancy investments go under the hammer. Strong competition between the main players in this specialist market ensured that 22 sold at strong prices (96%). Ground rents sold well, particularly houses subject to shorter unexpired lease terms. A selection of 45 lots in the Midlands on behalf of Network Rail drew much attention. Streets of houses subject to assured shorthold tenancies were broken up to investors along with surplus sites of various shapes and sizes with potential for development. 40 Sold (89%). No less than seven housing associations were represented offering a total of 32 lots. 29 sold (91%). Seven local authorities offered 13 lots of which 10 sold (77%). And previous resistance encountered to stock in some parts of the North of England appears to have faded. "Towards the end of last year, we experienced a dip in success rates outside of the perceived safer areas of London and the South-East." said Murphy. "At this sale, we were selling Northern stock more easily. Confidence in the regions appears to be returning." http://www.auction.co.uk/residential/pastResults.asp?A=709 Highlights of the sale include: </font> Highlights of the sale include: Lot 66 - 40 Ashford Road (also known as 1 Hassop Road), Cricklewood, NW2 6RX BY ORDER OF RECEIVERS A freehold end of terrace building arranged to provide Four Self-Contained Flats. Three Flats subject to an Assured Shorthold Tenancy. One Flat Vacant. Sold: £875,000 Guide price: £700,000 - £750,000 Lot 70 - 83 Stoke Newington Church Street, Stoke Newington, N16 0AR BY ORDER OF A HOUSING ASSOCIATION Flying freehold mid terrace Grade II Listed Building Investment internally arranged to provide four self-contained flats. Sold: £1.03M Guide Price: £800,000 - £900,000 Lot 76 - 3-11 Stean Street, Dalston, London E8 4ED BY ORDER OF JOINT FIXED CHARGE RECEIVERS A freehold Light Industrial Unit occupying a site extending to approximately 0.048 hectares (0.12 acres). Planning permission for the construction of a five storey building comprising two B1 office units and fifteen residential units. Sold: £850,000 Guide Price: £500,000 - £600,000 Lot 98 - Coningham Road, London, W12 8BH BY ORDER OF METROPOLITAN HOUSING TRUST A freehold Building internally arranged to provide Four Self-Contained Flats. Sold: £795,000 Guide Price: £700,000 - £760,000 Lot 110 - 1-15 (Odd) Beckford Way, Maidenbower, Crawley, West Sussex RH10 7LT BY ORDER OF A HOUSING ASSOCIATION Vacant freehold detached block comprising a total of Eight Self-Contained Purpose Built Flats situated approximately 3.25 miles from Crawley town centre. Sold: £830,000 Guide Price: £625,000 - £675,000 Lot 117 - Royal Crescent Apartments, Canute Road, Southampton, Hampshire SO14 3FJ BY ORDER OF GEOFFREY PAUL ROWLEY AND NICHOLAS HUGH O'REILLY OF FRP ADVISORY ACTING AS JOINT ADMINISTRATORS OF RC SOUTHAMPTON LIMITED Freehold Partially Completed Block. Planning permission to provide a total of eighty eight self-contained flats and three commercial units together with sixty eight car parking spaces. Potential for alternative development schemes, subject to obtaining all necessary consents. The property was previously on the market by private treaty for over 2 years. Sold: Sold Prior Guide Price: £2M+ Lot 120 - Gate Quays, Marine Gardens, Margate, Kent, CT9 1RU BY ORDER OF JOINT FIXED CHARGE RECEIVERS Freehold building arranged to provide Thirty Six Self-Contained Fflats and Three Commercial Units, twelve flats subject to long leases. One flat subject to an Assured Shorthold tenancy. Twenty three flats and three commercial units vacant. Sold: £850,000 Guide Price: £650,000 - £850,000 Lot 165 - 1 Slagrove Place, Lewisham SE13 7HT BY ORDER OF THE LONDON BOROUGH OF LEWISHAM Freehold Buildings and Site. Site extending to approximately 0.166 hectares (0.41 acres) Possible potential for development subject to all necessary consents being obtained. Sold: £730,000 Guide Price: £450,000 - £500,000 Lot 214 - 102 Rossiter Road, Balham, London SW12 9RX BY ORDER OF L & Q A freehold Semi-Detached Building. Eight room accommodation. Possible potential for redevelopment subject to all necessary consents being obtained. Sold: £780,000 Guide Price: £425,999 - £450,000 Allsop's next Residential Sale will be held on 29th (provisional date) and 31st March at The Park Lane Hotel, Piccadilly London W1. Entries are now invited. Deadline 4th March. Hang on - I thought there was a huge house price crash in progress? Clearly not given that almost all of the properties mentioned went for more than the guide price, some substantially more. Shouldn't people be picking stuff up for peanuts by now? Quote Share this post Link to post Share on other sites
MinceBalls Report post Posted February 23, 2011 Hang on - I thought there was a huge house price crash in progress? Clearly not given that almost all of the properties mentioned went for more than the guide price, some substantially more. Shouldn't people be picking stuff up for peanuts by now? Who sets the guide price? Quote Share this post Link to post Share on other sites
6538 Report post Posted February 23, 2011 Who sets the guide price? A valuer - usually the auctioneer. It's in their interest to set it high as they will probably be getting paid by commission and will most likely be acting as estate agent too. Even considering that, lots of these prices have exceeded the guide price. That doesn't seem indicative of a full on crash of the market. Quote Share this post Link to post Share on other sites
