Steve Jones comments on the Allsop Auction 24.03.10
Allsop’s March Auction had a success rate of 84% of the lots offered on the room, although 21 of the original 140 lots in the catalogue were withdraw before the auction.
As expected, with no changes to the market or the economy, the results appeared to be broadly similar to February’s auction with long dated income, retail properties and
The auction included 10 bank investments, which produced an average yield of 5.27%. This compared with 4.8% in February, although the lot sizes were rather higher and there were relatively few lots let to Barclays, which usually attract premium prices.
Jeff Rosen joins London-based Fifield Glyn
Jeff Rosen BSc FRICS ACIArb of Maidstone Capital LLP Salisbury Capital LLP and Lancaster Properties & Developments Ltd has now become a Consultant to Fifield Glyn. Jeff was a Director of Grosvenor Square Properties plc for 12 years and Director of Property Services for JC Property Holdings is an experienced, business and client/tenant focussed project management and development advisor and adds considerably to the services being provided for client organisations on behalf of Fifield Glyn.
Please contact Jeff Rosen on 020 7491 3336 Mob: 07721 429774 or jeff.rosen@fifieldglyn.com
Steve Jones Comments on – Allsop Auction 10.02.10
Allsop’s February auction had a success rate 82% compared with 78% in December and 92% in October, so I wonder if vendors are still being tempted to push reserves a little too far ahead of the market.
The Auction included 6 Banks let to Barclays on new 15 year (minimum) leases and the average yield achieved was apparently 4.8% compared with 5.4% in December, although the average lot size was less than £350,000 compared with almost £600,000. A couple of other banks with shorter leases failed to sell.
Once again, the highest demand was for secure, long dated income with retail and properties within
With interest rates likely to stay at historically low levels, I believe this is how the market will remain for the foreseeable future, as investors continue to seek secure opportunities offering much better returns than bank deposits.
Steve Jones Comments on – Allsop Auction 3rd December 2009
Allsop’s latest auction only had a success rate of 78%, compared with 92% in October. With prime yields having sharpened over the last few months, I wonder whether vendors were temped to push reserve prices just a little ahead of where the market actually is at present.
The auction included 33 bank investments and Allsop say the average yield was 5.41%, down from 5.16% in October, but a number of lots let to HSBC did have relatively early lease breaks.
County Cuisines open Farm Shop & Kitchen at Gadbrook Park!
Fifield Glyn acted for developers Osborne House. Contact victoria.fifield@fifieldglyn.com 01606 351 351 for more information.
Freehold Retail Warehouse Investment Purchase: Topps Tiles, Chesterway, Northwich
Fifield Glyn’s client Townson Estates PLC of
For more information please contact Steve Jones on 01606 351 351 or steve.jones@fifieldglyn.com
Gadbrook Park votes ‘YES’ for the BID!
Businesses on
The proposal for a Business Improvement District is the result of 18 months work, led by a number of companies on
John Fifield, Acting Chair of the Gadbrook Park
The five year project will be funded by a supplementary levy on business rates, which was approved by a majority of companies in a secret ballot during September 2009. Some 63% of companies approved the proposal, representing 74% of the rateable value.
The project has been supported through a partnership between the businesses on
Cllr Herbert Manley, Cheshire West and Chester Council Portfolio Holder for Prosperity for said: “This is the second successful Business Improvement District in Cheshire West and
Greville Kelly, Director for Sustainable Business at Groundwork, commented: “The Business Improvement District will enable
Steve Jones Comments on – Allsop Auction 7th July 2009
Yesterday’s auction had a success rate of approx 80% from a catalogue with 161 lots, which is larger than we have seen for a long time. Most of the retail and motor trade properties sold, whilst the majority of unsold lots were offices and pubs.
Three Barclay’s banks with smallish lot sizes sold for 4.0% and 4.75% (two lots). The average at 4.5% is down almost 0.5% from May, but these were small lots. One Lloyds bank with an expiry in 2016 failed to sell, perhaps due to recent announcements about closures and further redundancies within the Group but a £2Million lot with an expiry in 2020 went for 6.25%.
Somerfield (Co-op) PFS’s with convenience stores, with 2027 expires and 2% annual increases sold for 6.75% -7.5%. In May a number of similar lots sold for 1.0% less.
A Wetherspoon on ‘the circuit’ in Bolton and let until 2047 sold at 8.0% (£1.46 Million), which seems a high yield, bearing in mind the covenant.
‘For he’s a jolly good Fellow!’
Charles Fifield, a Director of Chartered Surveyors Fifield Glyn, was elected a Fellow of the RICS on Friday 3rd July 2009.
Charles specialises in Landlord & Tenant and Agency, together with Valuation and Rating work for clients throughout.
In addition, his Fellowship also recognises his work within RICS over the past decade, primarily with the young surveyors of RICS matrics, he was National Chairman in 2007/8, Hon Secretary 2002/5 and Chairman of Greater Manchester 2002/3.
Charles also served on RICS International Governing Council 2006/8, RICS Strategy & Resources Board 2008, RICS Council of England 2005/6 and a LionHeart Trustee 2006/7. He was elected a Member of the Manchester Society of Land Agents & Surveyors in 2009.