Nelson Bakewell - General - Nelson Bakewell Auction 13 October 2003
Date: 22 Sep 2003
Nelson Bakewell Auction 13 October 2003.
Nelson Bakewell's fifth auction catalogue of 2003 has been printed and is available by post and at www.nelson-bakewell.com
The catalogue comprises 58 lots with guide prices totaling £35 million and instructions from Morley Fund Management, Aberdeen Property Investors, Henderson Global Investors, Croydon Council and Surrey County Council amongst others.
Particular lots of note are
LOT 6: GRIMSBY
67-71 Victoria Street West, North East Lincolnshire
This property is let to Argos Limited for a term of 99 years from 31 March 1969 (66.25 years unexpired) subject to upwards only rent reviews every 14 years at a current rent of £130,000 per annum. The property is guided at £2.15m - £2.30m.
LOT 11: SOUTHEND-ON-SEA
165-167 High Street, Essex
Offered on behalf of Aberdeen Property Investors this property is guided at £1.75m - £1.815m. The property is let on assignment from Clinton Cards (Essex) Limited until 2014 (10.9 years unexpired) subject to upwards only rent reviews every 5 years at a current rent of £120,000 per annum.
LOT 20: DORCHESTER
1A/1B South Street & 23/24 Durngate Street
This property comprises two retail units at ground and first floor level and two self contained maisonettes at first and second floor level. The whole property is let on over-riding lease to Adams Childrenswear Limited for a term of 20 years from 20 November 1996 (13.10 years unexpired) subject to upwards only rent reviews every 5 years at a current rent of £123,820 pa. The property is guided at £1.8m - £1.9m.
LOT 29: BRISTOL
Unit 9 York Court, Wilder Street, Avon
The property comprises a virtual freehold office investment let to The Children and Family Court Advisory and Support Service (CAFCASS) for a term of 25 years from 25 December 1990 (12.25 years unexpired) subject to upward only rent reviews every 5 years at a current rent of £39,600 per annum. The property is offered with a guide price of £575,000 - £600,000.
LOT 45: BEDDINGTON
Land at Jessops Way, Surrey
The property, offered on behalf of Croydon Council, comprises a rectangular level site extending to 4.34 hectares (10.72 acres). The site is currently let as a Go-Cart track and produces £15,000 per annum. The property is guided at £75,000 - £100,000. There are a further 7 lots from Croydon Council included in the auction catalogue.
LOTS 52-54: PUTTENHAM
Land East and West of and the Catering Outlet, Hog’s Back, Surrey
The property, offered on behalf of Surrey County Council, comprises a freehold site adjoining the westbound carriageway of the A31 dual carriageway which links the A3 and M3. The site extends to circa 10 hectares (24 acres) and part of the site has existing A3 use for a catering outlet. The property is to be offered as 1, 2 or 3 lots. There are a further 5 lots from Surrey County Council included in the auction catalogue.
The Auction will take place in The Ballroom, The Langham Hilton Hotel commencing at 2.00pm.
Nelson Bakewell's last auction of 2003 will be on Monday 8 December.
For further information please contact: -
James Cannon
Nelson Bakewell
020 7544 2241
email: jcannon@nelson-bakewell.com
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