Jump to content
House Price Crash Forum
Sign in to follow this  
EDW

Barnard Marcus Auction 19th August 2008

Recommended Posts

http://www.barnardmarcusauctions.co.uk/Current_Auction.html

Have a look at lots 37, 98, 107, 117, 121, all from the same development in Hounslow West. First time I have seen this sort of thing in/around London. Usually they spread them out over time or different auction houses.

The Blenheim Centre, Prince Regent Road, Hounslow, Middlesex, TW3

http://www.houseprices.co.uk/e.php?q=The+B...ow%2C&n=100

Some of these up for auction were sold in January 2008, weird.

Lot 121

11/01/2008 £235,000 Flat L Yes Map The Blenheim Centre, Flat 926, Prince Regent Road, Hounslow, Greater London, TW3 1NN

Share this post


Link to post
Share on other sites
I have to say there seems to be a lot of overpriced junk going to auction. Perhaps the homes look better inside.

I know I've seen some of these properties already - see my previous posting re: flat in Hove lot 151 29th July last bid £161k unsold. It's a distress sale.

Haven't seen multiples of one development in/around london before, stoke on trent yes.

:rolleyes:

Share this post


Link to post
Share on other sites
I know I've seen some of these properties already - see my previous posting re: flat in Hove lot 151 29th July last bid £161k unsold. It's a distress sale.

Haven't seen multiples of one development in/around london before, stoke on trent yes.

:rolleyes:

Sorry current ie 19/08 catalogue lot is 77, it was lot 151 on the 29th ;)

Share this post


Link to post
Share on other sites
The green minis have one for sale, looks a typical new build slave box, maybe it's above a shopping centre?

Why was it rep'd so fast? Portfolio collapse of BTL fool maybe?

http://www.foxtons.co.uk/property-for-sale...low/chpk0366284

Nope exec development methinks. Prime BTL (!) Can't be a**ed to pay £3 a pop to see if its the same poor fool but its the most likely situation. :rolleyes:

Edited by redshoes

Share this post


Link to post
Share on other sites

Have a look at lot 60:

30 Winnington, Fareham, Hampshire, PO15 6HR

Originally bought for £135k in August 2000.

They've MEWed twice, looking at the legal docs.

Registered charge 19 April 2004, Abbey National.

Registered charge 22 May 2006, Blemain Finance, Manchester.

The guide price is £190k-£220k. The Abbey charge is £250k. They'll be wanting their money back.

Share this post


Link to post
Share on other sites
Hmm. Going for the 1960s Soviet look?

Yes, it's pretty grim. I've seen office blocks better looking than that.

There is very little decent stock in the catalogue. The only lot that caught my eye is the house in Harrow which looks like it might be a good sized plot to redevelop with a modern house but still looks pricey at the guide price which is prolly 10% below the reserve.

Lot 19 close print

12 Preston Waye, Harrow, Middlesex, HA3

Freehold Detached House Two Floor 7 Room(s) Garden Garage/s Vacant

Guide Price £360,000 Plus

http://www.houseprices.co.uk/e.php?q=Preston+Waye%2C+Harrow

1 01/10/2007 £455,000 Semi F No Map 2a, Preston Waye, Brent, Harrow, Greater London, HA3 0QG Get FREE, instant value estimate

2 28/03/2007 £494,950 Det. F No Map 9, Preston Waye, Brent, Harrow, Greater London, HA3 0QG Get FREE, instant value estimate

3 09/01/2007 £365,000 Det. F No Map 11, Preston Waye, Brent, Harrow, Greater London, HA3 0QG Get FREE, instant value estimate

4 15/06/2004 £310,000 Ter. F No Map 8, Preston Waye, Brent, Harrow, Greater London, HA3 0QG Get FREE, instant value estimate

5 07/03/2003 £285,000 Ter. F No Map 5, Preston Waye, Brent, Harrow, Greater London, HA3 0QG Get FREE, instant value estimate

6 30/10/2001 £275,000 Semi F No Map 25, Preston Waye, Brent, Harrow, Greater London, HA3 0QG Get FREE, instant value estimate

7 21/09/2001 £240,000 Det. F No Map 11, Preston Waye, Brent, Harrow, Greater London, HA3 0QG Get FREE, instant value estimat

Share this post


Link to post
Share on other sites

I'll be keeping an eye on Lot 222 - 35 Alma Street, Abertillery, Gwent, NP13 £80,000 Plus

Sold for:

14 Nov 2006 35 Alma Street, Abertillery, Blaenau Gwent NP13 1QA Terraced Freehold £135,000.

Be interesting to see the other houses in my town too.

Share this post


Link to post
Share on other sites

Have a look at Lot 22...

Land at Madgehole Lane, Shamley Green, Guildford, Surrey, GU5

Freehold Land 3.5 Acre Development Potential Vacant.

This is the description

Whilst located in the Surrey greenbelt there may be potential for a future development of the site, possibly for a substantial detached single dwelling, subject to the necessary consents. Purchasers are deemed to rely upon their own enquiries with regard to planning permissions required.

I've spoke to Guildford planning about this site, and this is deep in the greenbelt on the outskirts of a town. Building a "substantial detached" house on this land is pie in the sky thinking. If you look at the legal docs, the buyer will have no recourse against the seller, it looks like someone bought this piece of land thinking they could make a quick fortune, and now they're realised they're sitting on a lemon.

Ouch!

Share this post


Link to post
Share on other sites
Have a look at Lot 22...

Land at Madgehole Lane, Shamley Green, Guildford, Surrey, GU5

Freehold Land 3.5 Acre Development Potential Vacant.

This is the description

I've spoke to Guildford planning about this site, and this is deep in the greenbelt on the outskirts of a town. Building a "substantial detached" house on this land is pie in the sky thinking. If you look at the legal docs, the buyer will have no recourse against the seller, it looks like someone bought this piece of land thinking they could make a quick fortune, and now they're realised they're sitting on a lemon.

Ouch!

Whenever I see something like this, I like to run quick checks to see what can be found on the web - the sort of thing any buyer should do.

Firstly I thought this may have been attached to a house, as did a quick search against the post code on www.houseprices.co.uk and got this:

23/04/2001 £920,000 Det. F/H No Map Madgehole, Madgehole Lane, Shamley Green, Guildford, Surrey, GU5 0SS

See http://www.houseprices.co.uk/madgehole-lan...-guildford-gu5/

Nothing conclusive about this:

I then did a general internet search and found this really weird reference at the same postcode in the Bangkok Independent:

http://www.nationmultimedia.com/qvote/view...e=6&pid=225

I always get worried when I see C/O an address and then reference to Triads. That would put me off buying.

Finally, to check the planning status I went to www.upmystreet.com to check out the local authority info. Actually its not in Guildford as the original poster said, but under Waverley Council www.waverley.gov.uk

I then dug out a copy of their local plan document from the website, which is useful for anyone in the building trade as it tells you what you may and may not get away with. Essentially if it is in an urban areas or settlement area then development is OK, as long as its not to big or out of character etc. Beyond that the Greenbelt and Countryside beyond are not really possible except for certain agricultural and rural exceptions.

Anyway, what did I find? down loading the massive 29MB pdf for the Western part of the district from the following page,

http://www.waverley.gov.uk/site/scripts/do...?downloadID=233

It is fairly clear to me that this is bang in the green belt. Attached is a section from the relevant map and the map key showing the green striped for green belt.

Finally always look on Google Earth. The coordinates for this site are roughly: 51 ° 10' 54.76" N and 0 ° 30' 24.09" W

Just in case you might be buying next to a sewage farm.

Of course after than you need to do all the real legal stuff, but everything I have outlined above is free and by the simple process you can conclude the follow:

a.) No hope in hell of building on this land ever.

b.) As this is basically agricultural land, the value is nothing. In Surrey your talking £6K an acre, so this site is worth £20k at most.

Edited by mikelivingstone

Share this post


Link to post
Share on other sites

After seeing this posting I downloaded the legal documents out of interest.

Today I have received this email advising that the reserve price has been reduced significantly.The Seller must be reading this site and is getting desperate.He has entered into a contract to buy the land with completion for mid September and is hoping to flip the land at auction to make a tidy profit.Not much hope of that now !

From: Chris Glenn [mailto:Chris.Glenn@sequencehome.co.uk]

Sent: 18 August 2008 3:05 PM

Subject: Land at Madgehole Lane , Shamley Green - LOT 22 - PRICE REDUCTION

Further to your interest in the above parcel of land , the auction takes place tomorrow commencing 11am.

The reserve price has been significantly reduced , as a result , the guide price is now £75,000+

Details of the auction can be viewed at www.barnardmarcusauctions.co.uk

cant wait til tomorrow :P:P:P:P:P

Share this post


Link to post
Share on other sites
I'll be keeping an eye on Lot 222 - 35 Alma Street, Abertillery, Gwent, NP13 £80,000 Plus

Sold for:

14 Nov 2006 35 Alma Street, Abertillery, Blaenau Gwent NP13 1QA Terraced Freehold £135,000.

Be interesting to see the other houses in my town too.

Sold for 80k, which is 40% down on the Nov 2006 price.

Share this post


Link to post
Share on other sites
After seeing this posting I downloaded the legal documents out of interest.

Today I have received this email advising that the reserve price has been reduced significantly.The Seller must be reading this site and is getting desperate.He has entered into a contract to buy the land with completion for mid September and is hoping to flip the land at auction to make a tidy profit.Not much hope of that now !

QUOTE

From: Chris Glenn [mailto:Chris.Glenn@sequencehome.co.uk]

Sent: 18 August 2008 3:05 PM

Subject: Land at Madgehole Lane , Shamley Green - LOT 22 - PRICE REDUCTION

Further to your interest in the above parcel of land , the auction takes place tomorrow commencing 11am.

The reserve price has been significantly reduced , as a result , the guide price is now £75,000+

Details of the auction can be viewed at www.barnardmarcusauctions.co.uk

cant wait til tomorrow :P:P:P:P:P

This lot unsold. First bid at £60k, and last bid at £85k, but still did not reach the reserve. Of course, the auctioneer can take bids off the walls as long as he is below the reserve.

Share this post


Link to post
Share on other sites

http://www.barnardmarcusauctions.co.uk/Current_Auction.html

Results are up. There were a few real quality lots which made strong prices, Lots 19, 25 both good size family houses in N. London with potential sold for 400k each. Poor properties continuing trend of ever lower prices and going unsold.

Out of town, lot 180 seems to have been a good buy at £142k.

£145,000 Semi F No Map 17, South Road, Bournemouth, BH1 4PB

http://www.houseprices.co.uk/e.php?q=BH1+4PB+&n=100

I can't find any three bed houses in the area for under £200k but I don't know the street or the area.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.