Highlights of the Barnett Ross Auction on 25th October 2017
Success Rate: 93%
Total Sales: £19,700,000
We have never seen it so busy, with standing room only, not a single spare seat and plenty of new faces at the Auction. Exceptional prices were achieved for good quality shops with uppers.
The highest price achieved was £1,806,500 for Lot 14: 140 Shenley Road (incl. Jasmine Court), Borehamwood, Herts. WD6 1EQ - A Shop and 8 Flats plus Double Garage producing £91,912 per annum, generating a yield of 5.1%.
Another notable lot was Lot 9: 65a High Street, Edenbridge, Kent TN8 5AP - This attractive corner building let to DP Realty Limited trading as a Domino’s Pizza Take-Away producing £14,500 sold for £300,000, generating a very strong yield of 4.8%. This property was sold for former England Cricketer Mark Ramprakash who will be providing a personal signed cricket bat to the buyer. Whilst Lot 5 - 171 High Street, Rochester, Kent ME1 1EH - sold prior for former England Cricket Captain Alec Stewart, who will also be providing a personal signed cricket bat to the buyer.
Also worthy of mention are Lots 3 and 40 in the same High Street in New Malden, Surrey - 71 High Street, New Malden, Surrey KT3 4BT sold for £530,000 and 58 High Street, New Malden, Surrey KT3 4EZ sold for £766,000 - each being a shop with upper parts let on one Lease, which achieved yields of 4.7% and 4.6% respectively.
John Barnett commented: "We sold 3 properties in this Auction that had been in the same ownership for 40/50 years. It is a privilege to be chosen as Auctioneers by these clients, including a Family Trust and Executors and they rely on us for sound advice, a personal service and fantastic results were achieved all round".
Only 4 Lots remain unsold. The next Barnett Ross Auction will take place on Thursday 14th December 2017.