Highlights of the Barnett Ross Auction on 17th July 2019
Total Raised: £11.4m; 88% Sold.
In celebration of his call up to the Great Britain 80’s Tennis Team at the World Championship in September in Croatia, John Barnett knocked down Lot 1 with a tennis racket instead of a gavel, taking forehand and backhand bids! John served up several ace Lots to a packed room at yesterday’s successful Auction held at the Churchill Hyatt Regency in Portman Square, London.
Lot 1 – 64 The Broadway, Stoneleigh, Surrey KT17 2HS – This Freehold mid terraced building, comprising a ground floor pet shop with a flat above let on one lease producing £15,500 p.a. was offered with a Reserve below £250,000 and sold at match point for £395,000 (a gross yield of 3.9%).
Lot 22 – 314 Oxford Road, Reading, Berkshire RG30 1AD – The most popular Lot of the Auction, with over 60 applicants registering for the legal pack, this Freehold Japanese restaurant with a self-contained 2 bed flat above, let on one lease producing £12,000 p.a., sold for £206,000, from a Reserve below £120,000.
Lot A – 79/81 High Street, Banstead, Surrey SM7 2NL – This well located Freehold mid terraced building comprising 2 ground floor shops and 2 self-contained flats let to Santander producing £73,500 p.a. sold for £1,110,000, making it the most expensive Lot of the Auction (gross yield 6.6%).
The next Barnett Ross Auction will take place on Tuesday 29th October 2019.