December 5th Catalogue Available Online
Last auction 17th October – over £25m raised, 84% sold
Next auction 27th February 2013 (entries open till 25th January)
We are delighted to announce the launch of CBRE’s 5th December catalogue for our final commercial auction of 2012.
Available online now at www.cbre.co.uk/auctions the catalogue comprises 33 properties, incorporating:
• 18 in London and the South East
• 4 guided at £1m or above
• 7 Bank Investments
• 26 tenanted investments producing £1.6m pa in rental income
• Yields of between 6% and 27%
Vendors in this auction include Administrators and Receivers, HSBC, McDonald’s, Sue Ryder, Spirit Pub Co, Institutions, Private Property Companies and Private Investors. The auction will be held at The Millennium Hotel, W1 bringing opportunities with appeal to private and institutional buyers at both ends of the spectrum.
Guide prices range from “No Reserve” on a retail and office investment in Thornton Heath, selling on behalf of the Receivers and producing £153,667 pa, to £1.6m-£1.65m on a retail investment in Strand Street, Douglas in the Isle of Man.
Retail and bank investments let to well-established covenants including: Barclays Bank; Cancer Research; Clarks Shoes; Clinton Cards; Laura Ashley; McDonald’s; Radstock Co-Operative Society; Santander and Sue Ryder are all represented in the catalogue.
Seven properties are being offered with vacant possession with the exciting potential to add value including: three restaurant/takeaways with valuable A3/A5 restaurant/takeaway consents and a drive-thru restaurant sited on the eastbound carriageway of the A14 at Nacton Heath, Ipswich.
Lots 28, 29, 31 and 32, were all formerly tenanted by McDonalds and are being offered with guide prices of between £30,000 and £300,000. The town centre properties are located in established retail locations in Kirkaldy, Hemel Hempstead and Merthyr Tydfil.
Auction Highlights Include:
• Lots 1 Braintree and Lot 2 Haworth: Two Sue Ryder sale and leaseback investments to be let on new 10 year leases at £7,500pa and £10,000pa respectively. Guide Prices: Lot 1 £85,000-£90,000 (Gross Yield: 8.8%). Lot 2 £120,000-£125,000 (Gross Yield 8.3%)
• Lot 3 Glastonbury: A freehold high street supermarket investment let to Radstock Co-Operative Society Ltd until 2069 with no break clauses at a rent of £40,500pa. Guide Price: £675,000-£700,000. (Gross Yield 6%)
• Lot 4 Wimbledon: A mixed use investment in The Broadway incorporating retail and residential ground rent income streams. The commercial unit is tenanted by Cancer Research UK for a further 10 years on a lease renewal. Total rental: £52,200pa. Guide Price: £800,000-£825,000. (Gross Yield 6.5%)
• Lot 10 Falmouth: A prime bank investment let to Santander (UK) Ltd until October 2018 at a rent of £51,500 pa together with the next door shop, trading as Clarks Shoes let at £36,000 pa. Total income £86,500pa. Guide Price: £900,000-£950,000.(Gross Yield 9.7%)
• Lot 12 Shoreham-by-Sea: A thriving modern drive-thru restaurant offering secure long term income stream. This leisure investment is leased to McDonald’s Restaurants Ltd until 2037 without break at a rent of £90,000pa. Guide Price: £1.5m. (Gross Yield 6%)
• Lot 14 Chichester: A retail investment in North Street let to Laura Ashley Ltd until December 2017 at a rent of £96,770 pa. Guide Price: £ 1.35m-£1.4m. (Gross Yield 7.2%)
• Lot 15 Douglas, Isle of Man: A prime retail investment in Strand Street let to Clinton Cards at a rebased rent of £100,000pa until September 2016. Guide Price: £1.6m-1.65m. (Gross Yield 6.5%)
• Lot 23 Thornton Heath: An exciting asset management opportunity offered with “No Reserve” on behalf of the Receivers. Ambassador House is a substantial office and retail lot measuring 80,000sq ft. With 74 years left to run on the headlease, half of the building is currently let on a blend of short term leases and ground rents producing a net income of £153,667pa.
The Vendors’ solicitor details are on each page. Legal packs and EPC’s may be down loaded off our website. Click here for full details: www.cbre.co.uk/auctions.
As the dedicated auction team of the leading global property agent CBRE has an unrivalled reach among buyers in the UK and overseas. The success rate from our latest sale in October has now reached 84% and more than £25m raised, bringing revenues so far this year to £94m, with a high average lot size for auction of £700,000.
We are now already taking instructions for our 27th February 2013 auction to be held at The Millennium Hotel and ideally need to have confirmed instructions by Friday 25th January. We would be delighted to discuss the best possible strategy to achieve an optimum result for any properties that you might be considering selling. Please contact us for further information on these or any other matters.
Our December auction begins at 2pm. We look forward to seeing you in the room.