Highlights of the Barnett Ross Auction on 24th October 2018
Total Sales: £10,400,000
Notable sales include Lot 37 – 180 High Street, New Malden, Surrey KT3 4ES – This ground floor Korean Restaurant with a two-storey self-contained Flat above, let on one Lease producing £28,000 per annum, was offered with a Reserve below £300,000 on behalf of Executors. This Lot saw very competitive bidding in the room and sold for £526,000 (a gross yield of 5.3%), once again illustrating the popularity of High Street, New Malden where we have achieved several successful sales in recent Auctions.
Another highlight was Lot 1 – 98 Boundary Road, St John's Wood, London NW8 0RH – a well-located Freehold ground floor Café with basement (plus 2 Flats sold off), producing £22,000 p.a. with a Reserve below £240,000, sold for £380,000 (gross yield 5.8%) - £140,000 above the Reserve.
The highest sale price achieved was for Lot 14 – 178/186 St Albans Road, Watford, Hertfordshire WD24 4AS – a late Victorian Freehold block of 5 ground floor Shops, 5 Flats and 3 Garages producing £101,850 p.a. sold for £1,478,000 (gross yield 6.9%).
Now taking instructions for the next Barnett Ross Auction, which will take place on Thursday 13th December 2018 at The Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG.