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Commercial Auction Summer Review 2018
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2018 selection of typical sales

February Auction

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 4.80% NIY
Lot 7 London, SW6 RETAIL Café with garden and large maisonette.Total rent £58,760pa (rising to £60,755.12pa in Year 3.) Future redevelopment opportunity.
SOLD £1.7m 3.31% NIY

February Auction

Lot 67 Leicester RESTAURANT Well located city centre restaurant entirely let to McDonalds Property Company Ltd 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

Lot 78 Bournemouth MOTOR TRADE Tyre and exhaust depot let to Kwik Fit Holdings Ltd at £34,778.22pa. Reversion 2027. Future redevelopment opportunity.
SOLD £730,000 4.52% NIY
Lot 96 Bury OFFICE Prominent corner office of 5,800 sq. ft. entirely let to an established firm of Solicitors on a new 15 year lease (no breaks) at £47,400pa with RPI linked reviews.
SOLD £905,000 4.96%

March Auction

Lot 3 London NW7 RETAIL Shop and maisonette let on overriding lease until 2027(TBO 2022) at £34,000pa.
SOLD £757,500 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 £600,000 5.24% NIY

March Auction

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 15 East Harling MEDICAL Dental surgery let to Whitecross Dental Care Ltd at £14,000pa until 2024. Parking at rear.
SOLD £245,000 5.57% NIY

March Auction

Lot 24 London, W2 CAR PARK Central London car park let until 2037 (no breaks)at £82,757pa.
SOLD £2.5m 3.11% NIY
Lot 51 Crawley OFFICE Offices let to Aircraft and Leasing Management Ltd at £63,120pa. Comprises 2,638 sq. ft.
SOLD £975,000 6.12% NIY

May Auction

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 2031without breaks in historic Yorkshire town.
SOLD £630,000 4.23% NIY

May Auction

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 76 Bolton GROUND RENT Ground rent on site of 1.9 acres on which is light industrial/office park. Let until 2106 (87 years) at £29,500pa.
SOLD £660,000 4.25% NIY

May Auction

Lot 90 Beaconsfield RETAIL Attractive Corner Property, let to W H Smith Retail Holdings Ltd at £77,500pa on a lease expiring 2023. Large upper parts.
SOLD £2.06m 3.54% NIY
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

July Auction

Lot 12 Enfield BANK Entirely 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 17 Skipton RETAIL Well located Estate Agents in attractive market town. Let at £41,000 until 2028.
SOLD £690,000 5.64% NIY

July Auction

Lot 91 Mitcham Investment Detached building (6,641 sq. ft.) with car parking providing a private school let at £108,440pa. Popular South London area.
SOLD £2.27m 4.49% NIY
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

July Auction

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
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