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Auction | Andrews & Robertson | London & South East | 86 Lots


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Lot 76 ( Guide Price: £8,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: ( Ground Rent ) 49-51 Radford Road, Hither Green, London SE13 6SB

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: Ground Rent Investment © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £8,000

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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Lot 77 ( Guide Price: £14,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: ( Ground Rent ) 9 Nant Road, Cricklewood, London NW2 2AL

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: Ground Rent Investment © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £26,000

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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Lot 78 ( Guide Price: £16,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: ( Ground Rent ) 152 Philip Lane, Tottenham, London N15 4JN

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: Ground Rent Investment © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £22,500

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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Lot 79 ( Guide Price: £5,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: ( Ground Rent ) 6 Broadwater Road, Tottenham, London N17 6ES

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: Ground Rent Investment © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £9,250

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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Lot 80 ( Guide Price: £3,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: ( Ground Rent ) 89 Musley Hill, Ware SG12 7NQ

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: Ground Rent Investment © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £8,000

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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Lot 81 ( Guide Price: £11,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: ( Ground Rent ) 173 Altmore Avenue, East Ham, London E6 2BT

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: Ground Rent Investment © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £13,000

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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Lot 82 ( Guide Price: £12,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: ( Ground Rent ) 84/86 Ling Road, Canning Town, London E16 4AN

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: Ground Rent Investment © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £12,500

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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Lot 64 ( Guide Price: £425,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: 136 Seymour Avenue, Tottenham, London N17 9EE

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: 5x Self-Contained Studio Flats © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: £155,000 on 8 April 2003

Auction Result: Unsold ( Highest Bid was: £424,500 )

Today's auction price would result in a Profit of £269,500 ( 173.9% / 11.7% pa ) since purchase on 8 April 2003.

( Not taking into account Stamp Duty, Legal Fees and any Estate Agency fees )

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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This one sums up everything that is wrong with living in London on an ordinary wage. Ridiculous rents for overcrowded accommodation in an unpleasant area. You'd be better off unemployed and throwing yourself on the mercy of the council.

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M21er,why are there so few comparisons on these.realsie there's a lot of ground rents but is it because these are houses that are probates etc?

Hi ZB,

I think it's due to a couple of reasons:

Commercial

There were a large number of shops with flats above plus a fair number of offices, pubs and land which don't have Last Sale Prices

Period of Ownership

Several of the lots were described as first time available for 25 or even 35 years and so of course Last Sale Prices are n't available.

And as you say there were around ten Ground Rents for sale at the end of the auction.

M21er

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why stick the guide on at £10k and then turn down 15k?palce is boarded up ffs

m21er have you got a summary for today?I suppose there's too few comparisons really.

ZB

I will have a Summary of the 14 properties which went through the auction today, for which we have Last Sale Prices. Two of the 16 properties with Last Sale details were Sold Prior

I don't know the London / South East market very well and with only 14 having Last Sale Prices, it's difficult for me to arrive at any conclusions. I got the impression that the auctioneers today were a little disappointed at some of the prices achieved today but that's only my interpretation

In the absence of Last Sale data, it would be great if anyone living locally to some of the lots could comment on the prices achieved....

M21er

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Summary of Results

I have now summarised the results for yesterday's auction.

In terms of the numbers of properties where we have direct comparisons with previous sales, this auction is pretty disappointing. We only have Last Sales Prices for 16 of the 86 lots. Of these 16 lots, two were Sold Prior. This means that we had 14 lots through the auction yesterday with Last Sale Prices - 6 showing a profit and 8 a loss.

Given the small number with Last Sale Prices, it's hard to discern any obvious trend. Ignoring the large loss from Burnley ( NW England again! ), it would appear that the Outer South East is holding up less favourably than London itself.

Any thoughts?

M21er

Summary ( Includes both Sold and Unsold Lots ) From: Andrews & Robertson Auction 12:00PM, Tuesday 8 May 2012

Biggest Winners ( £ )

1 Lot 64 136 Seymour Avenue, Tottenham, London N17 9EE £269,500 173.87% ( Result: Unsold £424,500, Purchased for £155,000 on 8 April 2003 )

2 Lot 20 284 Stanstead Road, Forest Hill, London SE23 1DE £208,000 149.64% ( Result: Unsold £347,000, Purchased for £139,000 on 29 October 1999 )

3 Lot 8 Flat 3, 78 Madeira Road, Streatham, London SW16 2DE £165,000 330.00% ( Result: Sold £215,000, Purchased for £50,000 on 12 November 1997 )

4 Lot 65 Flat 3, Mount Court, Lansdowne Hill, West Norwood, London SE27 0LR £82,500 300.00% ( Result: Unsold £110,000, Purchased for £27,500 on 30 December 1996 )

5 Lot 12 62 Northwood Road, Thornton Heath CR7 8HQ £30,000 25.00% ( Result: Unsold £150,000, Purchased for £120,000 on 19 March 2002 )

6 Lot 67 5 Berry Street, Burnley BB11 2LG £1,500 4.48% ( Result: Sold £35,000, Purchased for £33,500 on 30 April 2004 )

Biggest Winners ( % )

1 Lot 8 Flat 3, 78 Madeira Road, Streatham, London SW16 2DE £165,000 330.00% ( Result: Sold £215,000, Purchased for £50,000 on 12 November 1997 )

2 Lot 65 Flat 3, Mount Court, Lansdowne Hill, West Norwood, London SE27 0LR £82,500 300.00% ( Result: Unsold £110,000, Purchased for £27,500 on 30 December 1996 )

3 Lot 64 136 Seymour Avenue, Tottenham, London N17 9EE £269,500 173.87% ( Result: Unsold £424,500, Purchased for £155,000 on 8 April 2003 )

4 Lot 20 284 Stanstead Road, Forest Hill, London SE23 1DE £208,000 149.64% ( Result: Unsold £347,000, Purchased for £139,000 on 29 October 1999 )

5 Lot 12 62 Northwood Road, Thornton Heath CR7 8HQ £30,000 25.00% ( Result: Unsold £150,000, Purchased for £120,000 on 19 March 2002 )

6 Lot 67 5 Berry Street, Burnley BB11 2LG £1,500 4.48% ( Result: Sold £35,000, Purchased for £33,500 on 30 April 2004 )

Biggest Losers ( £ )

1 Lot 28 9 Market Street, Whittlesey, Peterborough PE7 1BA £63,625 34.28% ( Result: Sold £122,000, Purchased for £185,625 on 5 August 2005 )

2 Lot 69 24 Addenbrookes Road, Newport Pagnell MK16 9FD £47,950 27.72% ( Result: Unsold £125,000, Purchased for £172,950 on 21 January 2008 )

3 Lot 55 26 Addenbrookes Road, Newport Pagnell MK16 9FD £45,450 27.06% ( Result: Unsold £122,500, Purchased for £167,950 on 21 January 2008 )

4 Lot 21 First Floor Flat, 69 Waghorn Street, Peckham, London SE15 4LA £35,000 15.22% ( Result: Sold £195,000, Purchased for £230,000 on 30 November 2007 )

5 Lot 60 9 Baker Street, Burnley BB11 4QB £15,000 51.72% ( Result: Unsold £14,000, Purchased for £29,000 on 26 January 2005 )

6 Lot 70 227 Granby Court, Bletchley, Milton Keynes MK1 1NQ £5,500 10.28% ( Result: Sold £48,000, Purchased for £53,500 on 15 April 2005 )

7 Lot 15 Flat 3, Pemberton House, High Level Drive, Sydenham, London SE26 6XW £3,995 3.20% ( Result: Sold £121,000, Purchased for £124,995 on 17 July 2007 )

8 Lot 14 50 Riverdale Road, Plumstead, London SE18 1NZ £2,500 1.39% ( Result: Unsold £177,500, Purchased for £180,000 on 5 February 2009 )

Biggest Losers ( % )

1 Lot 60 9 Baker Street, Burnley BB11 4QB £15,000 51.72% ( Result: Unsold £14,000, Purchased for £29,000 on 26 January 2005 )

2 Lot 28 9 Market Street, Whittlesey, Peterborough PE7 1BA £63,625 34.28% ( Result: Sold £122,000, Purchased for £185,625 on 5 August 2005 )

3 Lot 69 24 Addenbrookes Road, Newport Pagnell MK16 9FD £47,950 27.72% ( Result: Unsold £125,000, Purchased for £172,950 on 21 January 2008 )

4 Lot 55 26 Addenbrookes Road, Newport Pagnell MK16 9FD £45,450 27.06% ( Result: Unsold £122,500, Purchased for £167,950 on 21 January 2008 )

5 Lot 21 First Floor Flat, 69 Waghorn Street, Peckham, London SE15 4LA £35,000 15.22% ( Result: Sold £195,000, Purchased for £230,000 on 30 November 2007 )

6 Lot 70 227 Granby Court, Bletchley, Milton Keynes MK1 1NQ £5,500 10.28% ( Result: Sold £48,000, Purchased for £53,500 on 15 April 2005 )

7 Lot 15 Flat 3, Pemberton House, High Level Drive, Sydenham, London SE26 6XW £3,995 3.20% ( Result: Sold £121,000, Purchased for £124,995 on 17 July 2007 )

8 Lot 14 50 Riverdale Road, Plumstead, London SE18 1NZ £2,500 1.39% ( Result: Unsold £177,500, Purchased for £180,000 on 5 February 2009 )

M21er

Note 1 The above Summary reflects the position at the close of the auction. Lots may subsequently have been sold which will not be reflected in the above Summary.

Any inaccuracies, errors or suggestions, please PM me

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Lot 16 ( Guide Price: £300,000 Plus ) From: Andrews & Robertson Auction 12:00 PM, Tuesday 8 May 2012

Address: 35 Foxberry Road, Brockley, London SE4 2SR

Catalogue: Auction Catalogue Link

The description from the Andrews & Robertson website is: Three Bed Terraced House © Andrews & Robertson Auctions

Map: Google Maps Link

Last Sold Price: No data found for this property - Click here to search

Auction Result: Sold for £355,000

It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown.

M21er

Any inaccuracies, errors or suggestions, please PM me - To see this result on your Twitter feed: Follow @M21er

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I viewed this property. Ok street, difficult for parking as near station and not controlled. Not in terrible condition but needed updating, new kitchen as minimum. Im not a builder but £10k minimum spend I'd say, possibly £20k if re-wiring & plastering?

I think there was 1% buyer's premium, if so that's £388 550 before you've done any work.

A 4 bed sold in Feb for £435k but a maybe comparable 3 bed sold for £375k in May 2010:

http://www.zoopla.co.uk/property/92-foxberry-road/london/se4-2sh/20911643

There was a thread somewhere questioning whether there was any value in buying a renovation project. As per that thread I can't see any "value" in buying this property at auction. There arent a lot of decent 3 beds on the market so I guess that is keeping demand up for this type of house (3 bed).

I don't think the crash has hit 3 bed houses in SE London yet, unfortunately. :angry:

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Lot 30a

Two bed terrace in popular area if Bromley.

Owned by Gainer plc.

Elderly tenant no longer there.

Two reception rooms 10' x 10' each

Kitchen 7' x 7'

Two beds 10' x 10'

Bathroom 7' x 7' access through rear bedroom.

Slates falling off roof needs relating.

Paths built above damp course.

Damp in ground floor walls.

Ground floor joists showing signs of extensive rot.

new kitchen reqd.

New bathroom reqd.

Rewire.

extensive Plastering reqd.

Heating dodgy.

Redec.

New carpets reqd.

Value when finished 249k

Local agent received offers of 210k & 215k survey put value at 190k.

Agent said Graingers trying to get more because it is valued too high on their books.

This raises two questions:

Why would anyone pay the required 200k asking price post auction, it would be far simpler & cheaper to buy a good condition house.

&

How many overvalued properties do Grainger plc hold on their books.

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