Bidding in the online ballroom
THE FIRST properties to be sold by Lambert Smith Hampton’s online auction platform are now live. They are five covered former reservoirs, for sale by Capita Real Estate, on behalf of Severn Trent Water, which is rationalising its property estate. These will be sold using the new LSH online bidding platform with the sale closing on February 11. Guide prices are all in the region of £20,000 and, subject to planning permission, the sites would be suitable for conversion to residential use.
Oliver Childs, national head of auctions for Lambert Smith Hampton, explains: “We are replicating ballroom auctions that are very successful as closely as possible. Offering an online service alongside is about giving clients choice and using technology to find the widest market and achieve market prices, while still providing the same transparent and competitive service of traditional sales.”
Back in the ballrooms and Acuitus is offering 72 lots in a traditional sale on February 11. Lots include a range of retail, office, industrial and leisure assets producing current total rental income approaching £5 million. Guide prices are from £20,000 to £2.95 million. Lots include two shops at 10-12 St Anns Road, Harrow, with flats above. They produce a rent of £46,314 a year and guide price is £1.5 million.
There is also a Tesco Express for sale at The Triangle, Kingston upon Thames. The freehold supermarket investment is let to Tesco until 2024 with no breaks and at a current rent of £80,759 a year. Guide price is £1.3 to £1.35 million.
In the residential market, Auction House London is selling a prime piece of London real estate — 90F Eaton Square, SW1, a ground-floor, 3,391 sq ft six-bedroom apartment in Belgravia. At first sight, the guide price is a bargain, at just £900,000. However, the property has only three-and-a-half years left on the lease. A 20-year extension is available but that will cost an additional £4.6 million. It goes under the hammer on February 24.
In the ‘real’ room at Acuitus: shops in Kingston (