The Buyers’ Top Picks
A selection of the most popular lots sold at auction in 2024
As Auctioneers we can see the amount of interest a lot generates and who has committed time and funds to compete at auction. Looking back at the most popular lots, below are some examples which all have at least 10 registered bidders competing at auction.
Leisure Asset
Nuffield Health, Wexham Street, Stoke Poges
Sold in February, the location of this lot – within 10 miles of Heathrow, its long lease and CPI increases caught buyers’ attention, for a covenant that is rarely traded at auction.
A dozen buyers registered with a £50,000 deposit, and it sold at £5,710,000 7.2%
Retail Investment
62-66 Foregate Street, Chester, Cheshire
Retail still makes up over 50% of sales, although buyers are all aware that rents have taken significant hits over the last decade, so are typically cautious.
This lot was part of a larger portfolio that all sold at auction. It is let to Nationwide Building Society, a Grade A covenant and the lease offered certainty of income in this Cathedral City for over 6 years.
11 buyers registered driving the bidding to £1.54m 9.3%
Leisure Asset
Nuffield Health, Wexham Street, Stoke Poges
Sold in February, the location of this lot – within 10 miles of Heathrow, its long lease and CPI increases caught buyers’ attention, for a covenant that is rarely traded at auction.
A dozen buyers registered with a £50,000 deposit, and it sold at £5,710,000 7.2%
Retail Investment
62-66 Foregate Street, Chester, Cheshire
Retail still makes up over 50% of sales, although buyers are all aware that rents have taken significant hits over the last decade, so are typically cautious.
This lot was part of a larger portfolio that all sold at auction. It is let to Nationwide Building Society, a Grade A covenant and the lease offered certainty of income in this Cathedral City for over 6 years.
11 buyers registered driving the bidding to £1.54m 9.3%
Trade Counter Asset
Unit 4, Windsor Road, Bedford
Trade counter assets always have a strong following, typically offering a strong covenant and low site covering which appeal to investors.
Whilst this example was secured on a local covenant and short lease, the site coverage was just 19% and buyers felt that the early rent review, in just 8 months would offer some early growth in the income stream.
14 buyers competed and drove the price to £954,000, 4.1% and £162 psft
Vacant Mixed Use Asset
135 Narborough Road, Leicester
Many more vacant lots are coming forward, all offering buyers opportunities to re purpose and reimagine the real estate. Each buyer has a different view of the project so when priced correctly, competition can be intense.
This example was one of 22 vacant former funeral parlours that we sold throughout the year for Dignity Funerals.
This location is one of the most concentrated centres for our buyers in the UK, and this lot offered the chance to create another flat in addition to the two flats and double shop.
17 bidders drove the price to £602,500, over double the client’s original valuation.
Trade Counter Asset
Unit 4, Windsor Road, Bedford
Trade counter assets always have a strong following, typically offering a strong covenant and low site covering which appeal to investors.
Whilst this example was secured on a local covenant and short lease, the site coverage was just 19% and buyers felt that the early rent review, in just 8 months would offer some early growth in the income stream.
14 buyers competed and drove the price to £954,000, 4.1% and £162 psft
Vacant Mixed Use Asset
135 Narborough Road, Leicester
Many more vacant lots are coming forward, all offering buyers opportunities to re purpose and reimagine the real estate. Each buyer has a different view of the project so when priced correctly, competition can be intense.
This example was one of 22 vacant former funeral parlours that we sold throughout the year for Dignity Funerals.
This location is one of the most concentrated centres for our buyers in the UK, and this lot offered the chance to create another flat in addition to the two flats and double shop.
17 bidders drove the price to £602,500, over double the client’s original valuation.
Development Land
Land at Progress Road, Leigh on Sea
One of three sites sold for National Grid, alongside BNP Paribas.
This was sold vacant, and comprised 3.5 acres within an industrial estate. Despite high development costs and uncertain planning, a dozen bidders registered to compete.
It sold at £1,161,000 - £330,000 per acre and seven times the original guide price.
Development Land
Land at Progress Road, Leigh on Sea
One of three sites sold for National Grid, alongside BNP Paribas.
This was sold vacant, and comprised 3.5 acres within an industrial estate. Despite high development costs and uncertain planning, a dozen bidders registered to compete.
It sold at £1,161,000 - £330,000 per acre and seven times the original guide price.