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Commercial Auction Annual Review 2018
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2018 selection of typical sales

February Auction 2018

Lot 6 Lewes BANK Attractive town centre building entirely let to Bank of Scotland Plc (T/A Halifax) at £62,000pa. Lease expires 2031.
SOLD £1.22m 4.8% NIY
Lot 14 Portsmouth TRADE COUNTER Self contained unit let to Speedy Hire Centres (Western) Limited at £85,751pa expiring in 2023.
SOLD £1.3m 6.22% NIY

February Auction 2018

Lot 67 Leicester RESTAURANT Well located city centre restaurant entirely let to McDonalds Restaurants Limited at £109,000pa. Lease expires 2036 (no breaks).
SOLD £2.7m 3.79% NIY
Lot 76 Reading RETAIL Well located parade of five shops with offices (part vacant) above in pedestrianised position near Waitrose. Let at £252,865pa.
SOLD £3.5m 6.78% NIY

February Auction 2018

Lot 78 Bournemouth MOTOR TRADE Tyre and exhaust depot let to Kwik Fit Properties Ltd at £34,778.22pa. Reversion 2027. Future redevelopment opportunity.
SOLD £730k 4.52% NIY
Lot 79 Worcester RETAIL Town centre shop entirely let to Accessorize Ltd at £52,000pa until 2027.
SOLD £762.5k 6.47% NIY

March Auction 2018

Lot 3 London, NW7 RETAIL Shop and maisonette let on overriding lease until 2027 (TBO 2022) at £34,000pa.
SOLD £757k 4.26% NIY
Lot 9 Guisborough BANK Well located town centre unit entirely let to Lloyds Bank Plc at £33,000pa. Lease expires 2031 (no breaks).
SOLD £600k 5.24% NIY

March Auction 2018

Lot 11 Brighton LEISURE Newly fitted restaurant let to Patty & Bun Ltd at £105,000pa on a new 20 year lease (no breaks). Well located in The Lanes.
SOLD £1.8m 5.49% NIY
Lot 24 Reading CAR PARK Central London car park let until 2037 (no breaks) at £82,757pa.
SOLD £2.5m 3.11%NIY

March Auction 2018

Lot 51 Crawley OFFICES Offices let to Aircraft and Leasing Management Ltd at £63,120pa. Comprises 2,610 sq. ft.
SOLD £975k 6.12% NIY
Lot 88 London, W1T OFFICES Prime mixed use city centre investment with self contained maisonette on third & fourth floors. Total rent £92,609.92pa with vacant office.
SOLD £3.5m 2.48% NIY

May Auction 2018

Lot 19 Orpington RETAIL WAREHOUSE Trade Counter Warehouse unit let to Multi Tiles Ltd on a new 20 year lease (no breaks) at £100,000pa.
SOLD £1.78m 5.29% NIY
Lot 21 Wetherby BANK Well located town centre Bank of Scotland let at £28,000pa until 2031 without breaks in historic Yorkshire town.
SOLD £630k 4.23% NIY

May Auction 2018

Lot 67 Worcester INDUSTRIAL Industrial unit let to Specialist Building Products Limited (t/a Permadoor) until 2031 (No Breaks) at £76,000pa with guarantee from Epwin Group Plc.
SOLD £1.2m 5.98% NIY
Lot 90 Beaconsfield RETAIL Attractive corner property, let to W H Smith Retail Holdings Ltd at £77,500pa on a lease expiring 2024. Large upper parts.
SOLD £2.06m 3.54% NIY

May Auction 2018

Lot 91 London, N22 RETAIL Two well located shops plus offices above with residential conversion potential. Total rents £95,000pa.
SOLD £1.725m 5.19% NIY
Lot 94 Leatherhead MOTOR TRADE Well located petrol filling station fronting A24/A246 let to Co-Op on a lease expiring 2027 at £161,639pa. Annual increases of 2%pa.
SOLD £2.5m 6.08% NIY

July Auction 2018

Lot 12 Enfield BANK Let to Bank of Scotland Plc (t/a Halifax) let at £95,000pa until 2031 without breaks. Includes upper floors with residential potential subject to planning.
SOLD £2.13m 4.2% NIY
Lot 91 Mitchum INVESTMENT Detached building (6,643 sq. ft.) with car parking providing a private school let at £108,440pa. Popular South London area.
SOLD £2.27m 4.49% NIY

July Auction 2018

Lot 94 Tunbridge Wells LEISURE Attractive restaurant in affluent town entirely let to Azzurri Restaurants T/A Zizzi until 2041 (no breaks) at £72,990pa.
SOLD £1.81m 3.8% NIY
Lot 98 Harrow RETAIL Town centre Public House with residential uppers, let to Mitchells & Butlers Retail Limited (t/a O’Neill’s) until 2022 at £98,500 pa.
SOLD £1.9m 4.88% NIY

July Auction 2018

Lot 108 Grimoldby RETAIL Convenience Store let to Co-operative on new 15 year lease from May 2018 (no breaks) with RPI increases. Rent £72,000 pa.
SOLD £1.42m 4.78% NIY
Lot 110 Barking INDUSTRIAL 5,673 sq. ft. of industrial units on site of 0.41 acres within 50 metres of North Circular. Let on 2x new 10 year leases at total £86,965pa.
SOLD £1.7m 4.82% NIY

October Auction 2018

Lot Vision Express UK Wide SALES & LEASEBACKS A package of nine regional high street sale and leasebacks on 10 year leases without break.
SOLD £1.994.5m Avg 4.7% NIY
Lot 12 Chippenham BANK Attractive bank let to Bank of Scotland Plc at £43,000pa until 2031 without break.
SOLD £830k 4.9% NIY

October Auction 2018

Lot 35 Brighton RETAIL Well located high street shop let to individuals at £45,000pa until 2023.
SOLD £935k 4.55% NIY
Lot 131 Stockton-on-Tees OFFICE Offices extending to 39,375 sq. ft. with 167 space car park. Let to the Secretary of State at £790,000pa until 2024, tenant break in 2021.
SOLD £3.5m £89 PSF Cap Val 21.2%

October Auction 2018

Lot 132-139 Welling RETAIL A parade of eight shops and maisonettes all let. Total rents £159,604pa. Offered as eight lots.
SOLD £2.632.5m Avg 5.72% NIY
Lot 178 Norwich TRADE COUNTER Freehold trade counter extending to 11,629 sq. ft. let to Howdens Joinery at £55,000pa until 2025.
SOLD £850k 6.13% NIY

December Auction 2018

Lot 18 Bromley BANK Town centre bank let to Metro Bank Plc until 2042 at £70,000pa with 3 bedroom maisonette let on an AST. Total rents £83,200pa.
SOLD £1.520m 5.15% NIY
Lot 79 Skipton RETAIL Well located Grade II Listed shop in attractive market town let to WH Smith Retail Holdings Ltd at £82,000pa until 2024.
SOLD £1.15m 6.73% NIY

December Auction 2018

Lot 86 London, N5 OFFICE Attractive and well located double fronted office with seven flats above, six let on AST’s and one vacant. Total rents £108,158pa.
SOLD £1.95m 5.22% NIY
Lot 87 Brierley Hill LEISURE A 32 bedroom hotel entirely let to Travelodge Hotels Limited until 2039 without breaks at £89,010pa.with uncapped RPI increases.
SOLD £1.450m 5.8% NIY

December Auction 2018

Lot 89 Swansea CAR PARK 385 space car park let to Virgin Media Ltd until 2039 at £112,540.40pa with 5 yearly rent reviews to a minimum of 4% pa compounded.
SOLD £1.79m 5.92% NIY
Lot 107 Batley INDUSTRIAL Industrial unit extending to 15,845 sq ft on a 1.61 acre site let to Tuffnells Parcels Express Ltd at £105,600pa until 2024.
SOLD £1.56m 6.38% NIY, £98.45 PSF
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