Barnett Ross ends 2018 with almost perfect score
Barnett Ross ended 2018 with a 97% success rate at its 13 December sale.
The standing room-only auction raised a total of £11.7m
The highlight of the sale was lot A, a parade of 14 shops, 13 flats and two garages in Chessington, Surrey. The parade, which was constructed in the mid-1930s by the vendor’s grandfather, provides a rent roll of £221,950 per annum.
Barnett Ross ended 2018 with a 97% success rate at its 13 December sale.
The standing room-only auction raised a total of £11.7m
The highlight of the sale was lot A, a parade of 14 shops, 13 flats and two garages in Chessington, Surrey. The parade, which was constructed in the mid-1930s by the vendor’s grandfather, provides a rent roll of £221,950 per annum.
The lot, offered to the market for the first time, sold for more than £4.9m – a 4.5% yield – off a guide of £3.75m.
Auctioneer John Barnett took 92 bids on the lot, which took 21 minutes and 27 seconds to sell – beating Barnett’s gavel-dropping record of 17 minutes and 39 seconds.
Other notable lots sold including a shop with flats above at Arnos Grove, N1, producing an annual rent of £20,250, which sold for £529,000 and a freehold shop in South Harrow, Middlesex, which sold for £465,000, some 70% above its reserve. The shop provides an annual income of £21,000.
Barnett said: “This again proves that within the M25 and in sought-after areas such as Harrow, there is still unlimited demand.”
The next Barnett Ross auction will take place on 28 February.
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