Allsop’s October Auction produced a success rate of 72%, which compared to 52% for Acuitus and 56% foer Cushman and Wakefield a few days later. Allsop commented that, whilst there were a number of new investors in the room seeking to buy long dated income with cash deposits, the general level of confidence amongst other investors and their banks was less than it had been earlier in the year. Bearing in mind the timing of the auction relative to the announcement of the Coalition’s spending review, it is not surprising quality of income and location were of greate interest to investors.

19 Bank investments were sold, reflecting an average lot size of £912,368 and initial yield 5.47%compared with £786,400 and 5.54% in July.
6 Lloyds Banks achieved yields below 5%, but 5 failed to sell at yields of circa 6.5%.

Interestingly, 2 new Tesco Express investments in Bristol and Barlow Moor Road, Chorlton and  failed to sell at 6.8% and 6.5% whilst a similar investment in Grays Essex did not sell at 7% in the Acuitus auction.

 

JAG Communications have taken a New 10 year FRI Lease at an initial rental of £17,500, rising to £20,000 pa after 2.5 years from Landlord Barton House Investments.

The property is a self contained building, ground floor retail 220 sqft, first floor 223 sqft and second floor 205 sq ft. Agents acting for the Landlord were Fifield Glyn and Cluttons Tod Miller.

For further information contact:

rod.welfare@fifieldglyn.com

 

A private investment client of Fifield Glyn has bought a retail investment

at 52 Stamford New Road, Altrincham for £700,000.

 

The property is prominently positioned at the corner of Stamford New Road and

Cross Street in the centre of Altrincham and provides 2 ground floor retail units.

52 Stamford New Road is let to Dawsons Music Ltd until June 2013 at £71,000pa,

whilst 4 Cross Street is let to a local mobile phone retailer at £12,000 pa until April 2013.

Vacant first floor offices provide an opportunity for refurbishment or conversion.

 

The investment shows a yield of approximately 10.0%.

A letter concerning Empty Rates written by Fifield Glyn’s Chairman; John G. Fifield, was published in Property Week’s 3rd September 2010 issue.

Read letter >>

Gadbrook Park’s bus shuttle service has changed! The service has a new bus stop located close to the County Café Bar car park with new evening bus services running at 1640, 1710 and 1740 at 50p per journey – travelling home has never been so good!

For a time table click onto www.gadbrookpark.com   and onto the Location page.

 Fifield Glyn celebrated their 35^th anniversary of the foundation of the firm in Manchester by taking their Staff and some Old Friends to Bangor on Dee Races   on Friday 30^th July 2010.

The latest Allsop action produced the lowest success rate for some time, with only 66% being sold in the room.

Apparently the room was quieter than usual with buyers being more selective and prices coming under ‘renewed pressure’, all of which Allsop have attributed to less finance being available to purchasers.

As usual, Banks and well let London Pubs were very popular, with the former averaging 5.54% compared to 5.06% in May, although the average lot size was £786,400 compared to £370,375.  

Interestingly, Cushman & Wakefield and Acuitus only achieved 55% and 53% in their July Auctions.

Fifield Glyn has been awarded the ISO 9001 certifying that the quality management systems have been assessed and approved by the CQS (Certified Quality Systems) Limited to the following Quality Management Systems, standards and guidelines BS EN ISO 9001:2008 for the provision of Chartered Surveyors and Commercial Property Consultants.

Allsop’s May auction results continued the broadly similar pattern we have seen throughout 2010, with Allsop reporting “retail, London based properties and secure long dated income all continued to attract keen bidding”.

Despite the political uncertainty surrounding the recent General Election, if anything, yields appeared slightly keener than in March, although at 101, the number of lots was noticeably down from 140.

4 banks were sold with an average yield of 5.06% compared with 5.27% in March and 9 public houses let to Enterprise Inns Plc produced an average 5.84%, compared with 6.55%.

A 3,000 sq ft site at 71 Witton Street adjoining The Works and close to Iceland and In-Store was sold for £165,000 plus Section 106 contribution. Mason Owen and Fifield Glyn acted for sellers and Matthews & Goodman acted for the buyer.