NEXT CUSHMAN & WAKEFIELD AUCTION - THURSDAY 22nd OCTOBER 2009

Our third auction of the year took place in July and post sale activity has resulted in a number of further sales exchanging with four more currently under offer, which should increase the total raised to a figure approaching £30 million from this sale with a further four lots now under offer.

As usual, a full results schedule is available to view on line at www.cushmanwakefield.com/auction.

I have highlighted below a few of the transactions:

163/165 Chiswick High Road, London W4 Let entirely to City Centre Restaurants (UK) Ltd until 2041 at £106,631 pa.  Sold for £1,880,000 (a yield of 5.36%). 26/28 Bell Street, Henley on Thames, Oxfordshire Let to Robert Dyas Ltd until 2011 at £88,000 pa. Sold for £1,250,000 (a yield of 6.65%). Middle Warren Neighbourhood Shopping Precinct, Hartlepool, Cleveland Majority let to Sainsbury’s Supermarkets Ltd until 2032.  Total income £141,860 pa. Sold for £2,220,000 (a yield of 6.09%). 206-212 High Street, Waltham Cross, Hertfordshire Let to Kwik-Fit (GB) Ltd with a guarantee until 2032 at £53,400 pa. Sold for £1,027,000 (a yield of 4.91%). Travelodge Hotel, Lower Mill Field, Pontypool, South Wales Let to Travelodge Hotels Ltd until 2033 at £156,350 pa. Sold for £2,150,000 (a yield of 6.86%).

Next Auction Date
 
Our next auction takes place on Thursday 22nd October and our books close in the middle of September. 

If you are thinking of selling, the current market provides an excellent opportunity to take advantage of the low deposit rates available elsewhere to buyers which has prompted many to invest in commercial property for better returns.

Recently, we have seen competitive bidding between cash rich private investors which has led to excellent prices being achieved, but in turn leaving much unsatisfied demand.

The gap between the pricing of Grade A and Grade B income continues to widen and although secondary properties are undoubtedly more difficult to sell, careful pricing should still attract buyers in what is a rapidly changing market.

Please feel free to contact any of the following Partners in the Auction team for assistance or simply for a view on anything you are thinking of selling:

John Townsend BSc FRICS
Partner
020 7152 5025
john.townsend@eur.cushwake.com



Martin Christopher
Partner
020 7152 5026
martin.christopher@eur.cushwake.com



David Margolis BSc MRICS
Partner
020 7152 5214
david.margolis@eur.cushwake.com