allsopauctions
service summary
2 Allsop Auctions Service Summary
ContentsContents
Service Summary
as its nearest competitor by value
In 2016 Allsop sold over twice as much
1. Introduction 4
2. Why sell at auction? 5
3. Why Allsop? 6
4. The auction process 12
5. 2017 auction dates 15
6. Highlights 16
7. Contacts 20
54 Allsop Auctions Service Summary Allsop Auctions Service Summary
Allsop LLP run the largest property auction departments in Europe through two highly experienced teams. Our Residential Auction department is headed by partners Gary Murphy, Chris Berriman and Stuart Gayer, together with a dedicated support team of 19. Our Commercial Auction department is headed by partners Patrick Kerr, Duncan Moir, George Walker and Mark Gower, supported by a team of 16. A minimum of six commercial and seven residential sales are held every year, offering a wide range of lots.
We take great pride in the level of service we offer to our clients. Our service is enhanced by our awareness that, not only do we have a duty to achieve the best possible price for our clients, but also a duty of care to our many bidders. These bidders have come to rely on the high quality of the information contained in our catalogues and the level of service we provide, enabling them to purchase at auction with confidence and ease.
SpeedThe entire process, from instruction to exchange of contracts, can be achieved within as little as six to eight weeks.
Certainty of saleThe auction method offers an exceptional degree of certainty that a sale will be achieved on auction day. A binding legal contract is formed on the fall of the hammer. The buyer is committed and no further negotiation can take place.
Best priceIf prepared properly an auction should generate a number of bidders for each property. The atmosphere created can be extremely exciting and the process of competitive bidding will help to achieve best price on the day.
Those properties which are suitable for a variety of alternative uses, often achieve higher prices at auction as a result of competition between different types of buyer.
Auction is also a great way to determine the true value of unusual lots that may be hard to price.
TransparencyAn auction sale is totally transparent and provides the seller with the assurance that the best possible price has been achieved in open competition. Where the seller has a duty to obtain best price, for example a charity or local authority, auction helps to discharge that obligation in a public way.
Multiple disposalsA large number of properties can be included in an auction and sold on the same day.
Introduction
Auction is regarded as the optimum method of disposal for a wide range of sellers.
2Why sell at auction?
1 OVER 78%of residential lots offered. Compared to industry average of 74%
SO
LD
SO
LD
OVER 88%of commercial lots offered. Compared to industry average of 86%
In 2016:
76 Allsop Auctions Service SummaryAllsop Auctions Service Summary
The UK’s no.1 property auctioneer
Experience & serviceAllsop has been synonymous with auctions for over 100 years and our auctioneers are amongst the most respected in the industry.
We offer a streamlined service aimed at getting the best price for your property with the minimal amount of stress.
Impartial adviceWhen advising on sales we always consider whether a property is more suitable for sale by auction or private treaty. Allsop offers both methods. Our auction and private treaty departments effectively work as one team, ensuring that our advice is impartial and carefully considered.
Unrivalled market exposure for your propertyFor every property offered in our auction sale we guarantee unrivalled exposure to the market.
Direct marketing • Online catalogue sent to our database of 250,000
registered subscribers from the UK and overseas• 6,000 printed catalogues mailed out for each
auction• Targeted e-mails are sent to relevant third party
databases• We target individuals who have previously bought
or expressed an interest in similar properties• Sales particulars are circulated to all adjacent
occupiers, where they are known to us and all local estate agents, builders and property companies
• We have separate databases for commercial and residential buyers but market to both. Competition for mixed use buildings will be maximised by marketing to both
Why Allsop?
3
Our registered database is the largest of its kind
Commercial & residential auction totals raised 2016
Souce: EI Group
£0
£200,000,000
£400,000,000
£600,000,000
£800,000,000
£1,000,000,000
£1,200,000,000
Allsop Savills (London-National &
Nottingham)
Acuitus Barnard Marcus iam-sold (All) Clive Emson (All)
auction
170To include (unless previously sold or withdrawn)
lots for sale at a major
commercial auction
FEBRUARY SALE RESULTS UPDATE - £71.3M RAISED - 90% SOLDSTART TIME: 10.00am
The Berkeley, Wilton Place, London SW1X 7RL
Printed catalogue requests 020 7543 6803online auction catalogue: www.allsop.co.ukAuction sale:
Monday 21st March 2016
Bid online Bid by phone
Bid in person
Bid by proxy
Includes properties offered on behalf of
*On the instructions of
Joint Fixed Charge Receivers
74 lotsLondon & SE£7.2m+ pa
Current income
32Receiverships29
Lots over £1m+
Unbroken Freehold
Shopping Parade and
Residential Investment
94 High Street, Whitton TW2 7LN
Freehold Restaurant and
Residential Investment
171 Lavender Hill,
Battersea, London SW11 5TE
Freehold Ground
Lease Investment
Dock Road, Gosport PO12 1SH
Freehold Car Park Investment
NCP Car Park,
Smithfield Street,
Liverpool L3 6AF
Freehold Shop Investment
and Vacant Offices
114-122 Kings Road,
Brentwood, London CM14 4EA
First Class Freehold
Shop Investment
2-3 Greengate Street,
Stafford, ST16 2HN
Freehold Office Investment
Justinian House, 10 Spitfire Close,
Ermine Business Park,
Huntingdon PE29 6XY
Freehold Restaurant
Investment
10 Station Approach,
Kew, Surrey TW9 3QB
Virtual Freehold Supermarket
Iceland Supermarket,
Alfreton Trading Estate,
Alfreton, Derbyshire DE55 4JJ
Freehold Shop Investment
with Vacant Residential
118 Putney High Street,
Putney, London SW15 1RG
Freehold Parade of Shops
and Residential Investment
1-7 Sterling Parade, The Street,
Rustington BN16 3DR
Total Guide Prices £5.225M - £5.575M
Guide Price £1.5M - £1.6M
Guide Price £5.25M+
Guide Price £725,000+
Guide Price £1.1M - £1.3M
Guide Price £2.1M - £2.3M
Guide Price £900,000+
Guide Price £1.15M - £1.25M
Guide Price £1.4M - £1.45M
Guide Price £1.5M+
Guide Price £3M - £3.2M
Lots 14-22
Lot 91
Lot 103
Lot 63
Lot 94
Lot 107
Lot 34
Lot 92
Lot 104
Lot 90
Lot 96
Well Located Virtual
Freehold Retail Investment
524-528 (Even), High Road
Tottenham, London N17 9SX
Guide Price £2.25M - £2.35M
Lot 99
1. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date at which the guide price, or range of
prices, is published. 2. The reserve price is the minimum price at which the property can be sold. 3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction.
14Offices/Industrials
Allsop EG - FP_297 x 210 mm colour_1st Insertion_05.03.16
Online exposure• On average our online catalogue receives circa
120,000 visits from over 150 countries in the three week marketing period prior to an auction
• A digital advertising campaign targets buyers across a network of sites based on their recent browsing history
• A Google PPC campaign targets buyers based on keyword search terms
• Residential properties are listed on the major portals, including Rightmove, Zoopla and Primelocation
9Allsop Auctions Service SummaryAllsop Auctions Service Summary8
82%of buyers
start their search online
according to research by Zoopla Property Group
2.52m visits to the residential and commercial online catalogues from 205 territories in 2016
PR and social mediaOur in house PR team works alongside our external advisers to carefully manage news stories and raise awareness of an auction sale through international, national and regional press coverage. Auction dates and selected properties are promoted across our
Print advertisingA targeted advertising campaign is placed across a range of publications including:
• Trade press• Regional press• National press
JULY SALE RESULTS UPDATE - £53.5M RAISED - 78% SOLD
(unless previously sold or withdrawn)
1. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date at which the guide price, or range of prices, is published. 2. The reserve price is the minimum price at which the property can be sold. 3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction.
The Cumberland Hotel, Great Cumberland Place, London, W1H 7DLCatalogue requests: 0906 515 1540 Calls charged at £1.50 per minute. For EPC ratings, refer to website. online auction catalogue: www.allsop.co.uk
Auction sale: Thursday 15th September 2016 Bid online Bid by phoneBid in person Bid by proxy
8-10 Church Street, Croydon CR0 1RZ• Freehold Building• GF let producing £57,500 p.a.• Vacant upper parts with PD
for 18 Studios
10 & 12 Wheathill Road, Anerley, London SE20 7XH• Two Freehold semi detached Buildings• Arranged as 6 x two bed Flats• Fully Vacant
55 Weltje Road, Hammersmith, London W6 9LS• Freehold 4 storey HMO Building• Fully let producing £75,600 p.a.
8 Grantbridge Street, Islington, London N1 8JN• Freehold mid terrace 4 storey House• 3/4 bedrooms with garden• Fully vacant
INVESTMENT INVESTMENT
INVESTMENT
INVESTMENTVACANT
VACANT VACANT
VACANT
VACANT
VACANT
VACANT
INVESTMENT/PART VACANT
BY ORDER OF A HOUSING ASSOCIATIONBY ORDER OF A HOUSING ASSOCIATION
BY ORDER OF A HOUSING ASSOCIATION
BY ORDER OF A HOUSING ASSOCIATION
Guide Price £800,000 - £850,000
Guide Price £1.5M+
Guide Price £1M - £1.1M
Guide Price £950,000+
Guide Price £2M - £2.1M
Guide Price £2.25M - £2.5M Guide Price £2M+ Guide Price £1M+
Guide Price £250,000 - £300,000
Guide Price £1M+ Guide Price £2.1M+
Guide Price £1.3M/£1.4M each
Guide Price £1.25M+
Guide Price £850,000+
Guide Price £1.25M+
Guide Price 1.3M+
auction
START TIME: 10.00 am
225 lots for sale at a major residential auction
Northgate House, Town Square, Basildon, Essex SS14 1EA • Long Leasehold upper parts
arranged as Offices• PD granted for 87 x one bed Flats
46 York Street, Marylebone, London W1H 1FN• Freehold 5 storey Building• GIA approx 237 sq m (2,549 sq ft)• Planning to convert to a family house
East Lane House, East Lane, Halton Lea, Runcorn WA7 2UR• Freehold former office building• Planning permission for conversion
to 448 apartments• Possible potential for alternative uses
Hall Steads Residential & Nursing Home, Stacey Crescent, Grimethorpe, South Yorkshire S72 7DP• Freehold former 86 bed Care Home• To be offered together with land
extending to approx 1.94 h (4.8 a)
106 Green Lanes, Stoke Newington, London N16 9EH • Freehold Building, GF let• Planning for 2 x two bed Flats
and a 3 bed Mews House• Producing £20,060 p.a.
2-3 Townley Road, East Dulwich, London SE22 8SW• Freehold detached former Care Home • GIA approx 415 sq m (4,476 sq ft)• Possible development
potential subject to planning
47 Wimbledon Park Road, Wandsworth, London SW18 5SJ• Freehold Building arranged as 4 Flats• Planning consent for conversion
to either a Family House or 3 Flats
35 Bramley Road, Notting Hill, London W10 6SZ• Freehold mid terrace Building• Arranged as Retail Unit with Maisonette
above 218 sq m (2,349 sq ft)
12 Royal Crescent, Brighton, East Sussex BN2 1AL• Freehold well located Grade II Listed
Building with uninterrupted sea views• Arranged as 8 bed HMO with 2 bed flat• Producing £26,660 p.a.
65/66 Compton Street, Clerkenwell, London EC1V 0BN• Two Freehold adjoining mid terrace
4 storey Buildings• Possible development potential,
subject to consents
28 Camden Hill Road, Crystal Palace, London SE19 2RT• Freehold mid terrace Building• Arranged as 3 self-contained Flats • Fully Vacant
49 Marchmont Street, Bloomsbury, London WC1N 1AP• Leasehold well located 3F 4 bed
Maisonette approx 127 sq m (1,374 sq ft) • Possible development potential
subject to consents
Lot 93
Lot 71
Lot 30
Lot 14
Lot 45
Lot 39 Lot 80 Lot 188
Lot 138
Lot 137 Lot 109A
Lot 88
Lot 27
Lot 70
Lots 28-29
Lot 17
11Allsop Auctions Service Summary
We achieve results
Auction Date Lots Offered Lots Sold Percent Sold Total Raised
Feb-16 282 212 76% £76,289,000
March-16 205 166 81% £58,282,000
May-16 250 201 80% £68,651,000
Jul-16 216 170 79% £55,496,000
Sep-16 194 155 80% £58,956,000
Nov-16 212 160 75% £67,619,000
Dec-16 214 158 74% £46,591,000
Total 1,573 1,222 78% (Avg) £431,883,000
Nationwide experience
We offer property throughout the UK and have nationwide experience and expertise.
Allsop Auctions Service Summary10
Regional distribution of properties offered at Allsop auctions 2016
Residential
Commercial
Residential auction results 2016
“Allsop smash records with the UK’s biggest single day residential
auction in May 2016.”
“Number of £1m+ lots sold at our residential auctions is increasing, from 78 in 2014, 90 in 2015 and 112 in 2016.”
Auction Date Lots Offered Lots Sold Percent Sold Total Raised
Feb-16 139 128 92% £76,116,000
Mar-16 148 136 92% £101,669,000
May-16 207 180 87% £119,420,000
Jul-15 156 136 87% £69,672,000
Oct-16 232 209 90% £121,021,000
Dec-16 224 182 80% £122,615,000
Total 1,106 971 88% (Avg) £610,513,000
The December result took the total realised by Allsop’s commercial auction department in 2016 to £610m, against a 10-year average of £450m. Having sold a total of 971 lots, the firm’s average success rate was 88% and notably 170 lots were sold over £1million, a substantial increase from the 120 sold in 2015.”
Commercial auction results 20160.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 50.00%
North East
North West
South East
South West
M25
Midlands & East Anglia
Wales
Scotland
Yorkshire & The Humber
Northern Ireland
0.00% 5.00% 10.00% 15.00% 20.00% 25.00%
North East
North West
South East
South West
M25
Midlands & East Anglia
Wales
Scotland
Northern Ireland
1312 Allsop Auctions Service Summary Allsop Auctions Service Summary
1. AppraisalThe initial consultation usually offers a no obligation appraisal with advice on whether the property is suitable for sale by auction. An estimated sale price and recommended reserve price is provided.
3. InstructionWe will agree with you our terms and conditions of appointment, including entry fees and commission.
2. InspectionOnce we have been formally instructed, the property will be inspected by one of our surveyors, measurements will be taken where appropriate and the property will be photographed.
Draft sales particulars will then be sent to you and your solicitors for approval. Your solicitor will be asked to prepare a legal pack, which will be made available during the marketing period by post or online.
The auction process
4
It is important to set the guide price at a realistic level which is attractive to buyers. This will generate competitive bidding in the auction room to ensure that best value is achieved.
3. MarketingRoutes to marketWe pride ourselves on the depth of our market. Every property in our catalogue benefits from unrivalled exposure and an intensive marketing campaign (as outlined in section three).
ReportingDuring the marketing period, all interest and enquiries are logged. We maintain close contact with all serious buyers and record the number of enquiries made. In such a way, we are able to advise you of the strength of interest in your property, as well as reporting any price indications or offers made prior to sale.
Appraisal Instruction Inspection Marketing Auction Completion
3 weeks 1 day2 weeks
1 2 3 4 5 6
Reserve priceIn light of the feedback received during the marketing campaign, we will advise if the previously agreed reserve price needs to be amended. This will be done a few days before the auction. This is the level below which we will not be authorised to sell. At this stage we are almost always in a position to gauge the level of interest in the property and will often know the identity of the people who are likely to be bidding for it.
1514 Allsop Auctions Service Summary Allsop Auctions Service Summary
5. Auction dayWell attended auctions
Throughout the day over 1,000 people attend each of our auction sales, creating the buzz and atmosphere crucial to ensure a successful and profitable outcome for your property disposals. Buyers are also able to bid remotely via telephone or online.
The fall of the hammer
In the UK, on the fall of the auctioneer’s hammer there is a binding contract and the purchaser is legally obliged to complete the purchase. A 10% deposit is paid to Allsop LLP in the room, and for residential sales a buyers fee is payable.
The exchange of signed memoranda is supervised and conducted by our solicitor immediately after the fall of the hammer. In the unlikely event of any queries of a serious nature being raised, this would be discussed with yourselves and/or your appointed solicitor who may be present in the auction room.
What happens if the property does not sell on the day?
In the less likely event of any lot remaining unsold, we normally expect our instructions to continue for a period of 45 days after the sale. We will contact all previously interested parties and request best bids. In our experience sales are more likely to be agreed immediately following the sale, when post-auction interest is at its strongest.
6. CompletionOnce the property has sold, completion usually takes place between 20 to 30 working days after the auction.
Our residential auctions are sometimes held over two days to ensure adequate attention is given to all lots.
* Provisional date
52017 auction dates
March 2017 29th* & 30th
May 2017 24th* & 25th
February 2017 15th* & 16th
September 201713th* & 14th
July 2017 19th* & 20th
Selling at auction in four simple steps - watch our video guide on the Allsop You Tube channel
February 2017
7th
December 201713th* & 14th
October 201725th* & 26th
December 20175th
October 201717th
March 201727th
May 201723rd
July 201710th
Residential
Commercial
Via proxy
Bid remotely
Telephone
Online
HighlightsResidential
6
16 Allsop Residential Auctions 17Allsop Residential AuctionsAllsop Auctions Service Summary Allsop Auctions Service Summary
Sold Feb £1.035m
Sold Feb £2.1m
Sold Mar £5.95m
Sold Dec £1.585m
Sold Nov £4.21m
Sold May £1.5m
Sold Sep £237,500
Stratford, London E15Two bedroom mid terrace house. Guide £ 295,000+
Luton, BedfordshireBlock of 18 flats each subject to an AST. Guide £1.9m+
Winchmore Hill, London N21 Seven bedroom mansion house. Guide £3m+
Sold Feb £755,000
Isleworth, London TW7 Ground rent investment secured upon 86 flats. Guide £450,000+
Kentish Town, London NW5Site with residential development potential. Guide £6m+
Hampstead, London NW3Tenanted building arranged as two flats and a maisonette. Guide £1.5m - £1.6m
Hackney, London E9Mid terrace building with potential development. Guide £800,000+
Pangbourne, BerkshireGrade I listed country house. Guide £2m - £2.2m
Nottingham, NottinghamshireSite with planning consent for 350 units. Guide £2.75m+
Leicester, LeicestershireBuilding providing three flats and a maisonette. Guide £140,000
Aylesbury, Buckinghamshire Office block with Permitted Development Rights for 12 flats. Guide £1.1m+
Codicote, HertfordshireFour bedroom mid terrace house. Guide £200,000+
West Ken, London W14Adjoining mid-terrace buildings with planning permission. Guide £4.2m+
Sold Sep £395,000
Sold Jul £4.2m
Sold Jul £2.15m
Sold Mar £2.6m
Sold Dec £2.6m
1918 Allsop Auctions Service Summary Allsop Auctions Service Summary
Cirencester - OFFICE9,986 sq ft modern office, lessees include BAe Systems and Smiths Gore, £146,064pa.
Bristol - MULTI-LET RETAILTwo newly built Freehold shop investments let to WM Morrison until 2029 and Connells Residential until 2030.
Gatley - OFFICELet to Intervoice Ltd at £250,000pa until 2016. Consent granted for 24 residential units.
Streatham, London SW16 - RETAILFreehold convenience store investment let to Tesco Stores Ltd until 2022 at £81,759pa.
Leeds - INDUSTRIALRetail Warehouse investment let to Saint Gobain Building Distribution Ltd on a lease expiring 2023 at £87,500pa.
Holloway, London N7 - RETAILThree modern restaurants with ground floor shop let to Boots UK Ltd at £75,000pa. Lease expires 2023.
Widnes - RETAILFour modern virtual Freehold shops let to Barnados, Subway, White Cross Vets and Bargain Booze. Whole let at £81,000pa.
Neasden, London NW10 - MIXED USE RETAIL Six shops with maisonettes above. Total rents £135,550pa.
Ruislip Manor, Middlesex - MIXED USE RETAIL Mixed use investment with development potential.
Kew - LEISUREAn attractive and well located Pizza-Express with 9 years unexpired.Highlights
Commercial
Sold February £7,200,000
(3% NIY)
Sold October £2,090,000 (3.7% NIY)
Sold July£1,520,000 (5.4% NIY)
Sold October £1,100,000 (7.95% NIY)
Sold March £1,550,000 (3.1% NIY)
Sold July£1,010,000
(7% NIY)
Sold Prior March in excess of £5,250,000 (4.3% NIY)
Sold December£1,500,000 (4.7%
NIY)
Sold February £3,305,000
(3.9 NIY)
Sold December £1,100,000
(7% NIY)
Falmouth - RETAILFreehold shop investment let to Mountain Warehouse on a new 10 year lease at £75,000pa. Review 2025.
Sold May £1,620,000 (8.5% NIY)
Sold May £2,000,000
(£73 psf)
Gosport - GROUND LEASELet to ASDA at £249,850pa, 84 years unexpired.
6
Sold March£3,350,000
(5.7 NIY)
Mottingham, London SE9 - RETAILA mixed use parade of 13 shops, flats and garages.
Allsop Auctions Service Summary Allsop Auctions Service Summary18 19
2120 Allsop Auctions Service Summary Allsop Auctions Service Summary
Contacts
Gary Murphy LLB FRICS
Partner & AuctioneerEmail
Christopher Berriman BA MRICS
Partner & AuctioneerEmail
Stuart Gayer MNAVA
PartnerEmail
Jourdan Prowting
PartnerEmail
Richard Adamson BA DipSurv
Partner & AuctioneerEmail
Jamie Clarke
PartnerEmail
Richard Watson MRICS
PartnerEmail
Simon Hepworth
PartnerEmail
Residential Auction department T: +44 (0)20 7494 3686E: [email protected]
Zoe Baxter MRICS
AssociateEmail
Tom Wright MRICS
AssociateEmail
Jimmy Bruce
Associate & AuctioneerEmail
Laura Kerr MRICS
Senior SurveyorEmail
7
Sarah Bathurst Brown
PAEmail
Alice Carroll
PAEmail
Simon Bates
AdministratorEmail
Pam Huggett
Viewings Co-ordinatorEmail
Zoe Driscoll
Legal AdministratorEmail
Harriet Mitchell MRICS
Senior SurveyorEmail
Philip Jackson
Regional Auction SurveyorEmail
Will Taylor
Senior SurveyorEmail
Tracy Barker-Chaplin
PAEmail
Jenny Stevens
Auction Administration Email
Ben Morrall
Ben MorrallApprenticeEmail
Patrick KerrFRICS
PartnerEmail
Duncan MoirFRICS
Partner & AuctioneerEmail
George Walker MRICS
Partner & AuctioneerEmail
Mark GowerMRICS
PartnerEmail
Neil MackilliginFRICS
ConsultantEmail
Gregor CampbellMRICS
PartnerEmail
Philip ParsonsMRICS
PartnerEmail
Alex NeilMRICS
PartnerEmail
Commercial Auction department T: +44 (0)20 7494 3686E: [email protected]
Chris ChildsMRICS
AssociateEmail
Jonathan WrightMRICS
AssociateEmail
Will CloughMRICS
Associate & AuctioneerEmail
Ben HodgeMRICS
Senior SurveyorEmail
Caroline Rundle
Viewing Co-ordinatorEmail
Doug GuildMRICS
SurveyorEmail
David Marshall
Auction AssistantEmail
Charlotte Sloan
PAEmail
Chattie Webb-Bowen
PAEmail
7
22 23Allsop Auctions Service Summary Allsop Auctions Service Summary
Contacts
Tom HansonMRICS
SurveyorEmail
Services
Affordable Housing
Auctions
Build to Rent
Business Rates
Development Agency & Advisory
Insolvency
Investment (Sales & Acquisition)
Lease Consultancy
Letting and Management
Office Leasing (Central London)
Private Rented Sector
Valuation
Contacts
Head office33 Wigmore Street, London W1U 1BZTel: +44 (0)20 7437 6977 City office2 Copthall Avenue, London EC2R 7DATel: +44 (0)20 7588 4433 Leeds office33 Park Place, Leeds LS1 2RYTel: +44 (0)113 236 6677
Brighton officePrinces House, 53-54 Queens Road, Brighton BN1 3XBTel: +44 (0)1273 322 013
www.allsop.co.uk