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Osborne King Property Auction Property Auction 20 October 2017 Property Auction

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Osborne King Property Auction Property Auction 20 October 2017 Property Auction Friday 20 October 2017 11am at the Olympic Suite, Clayton Hotel, Ormeau Avenue, Belfast BT2 8HS PROPERTIES GOING UNDER THE HAMMER OSBORNE KING PROPERTY AUCTION PROPERTY AUCTION 20 OCTOBER 2017 PROPERTY AUCTION OSBORNE KING RANKED 6TH IN THE UK TOP COMMERCIAL AUCTIONEERS 2017 INSTINCTIVE EXCELLENCE IN PROPERTY WWW.OSBORNEKING.COM/AUCTION OSBORNE KING DOES NOT CHARGE A BUYER’S PREMIUM OR ADMINISTRATION FEE AUCTION VENUE / CONTACTS A SALE OF COMMERCIAL, RESIDENTIAL PROPERTIES, INVESTMENTS, LAND AND DEVELOPMENT OPPORTUNITIES (UNLESS PREVIOUSLY SOLD OR WITHDRAWN) ON BEHALF OF OUR CLIENTS: RECEIVERS, ADMINISTRATORS, MORTGAGEES, FINANCIAL INSTITUTIONS, PRIVATE CLIENTS AND OTHER. The Auction will take place on Friday 20 October 2017, at 11am at the Olympic Suite, Clayton Hotel, Ormeau Avenue, Belfast BT2 8HS | | | | | | | | TO CITY | | | AIRPORT | | | | | | | | | | | | CITY CENTRE | | | | | QUEEN’S BRIDGE| | | | | | | | | | DONEGALL SQUARE | WESTLINK | | | CITY HALL | WATERFRONT | | | MAY STREET HALL | HOWARD STREET | | ADELAIDE ST LINENHALL ST | BEDFORD ST GT VICTORIA ST EAST BRIDGE STREET| | | | | Y | A OPERA CENTRAL | | W | R HOUSE STATION | O | T | O | M | | 1 | M ORMEAU AVENUE | CROMAC STREET | || | | | || | | | | GREAT | | | | | | | | VICTORIA | | | | | | | | STREET | | | | | | | STATION | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | DUBLIN ROAD | | | | | | | | | | | | | | | | | | | | KEY CONTACTS AUCTION ENQUIRIES For all enquiries about any of the properties within the catalogue, bidding at auction or to submit a property for our next auction please contact any of the Auction Team. Mark Carron MRICS Thomas Osborne MRICS Lisa Anderson Auctioneer Auctioneer Auction Co-ordinator Telephone 028 9027 0016 Telephone 028 9027 0036 Telephone 028 9027 0041 Telephone 028 9027 0000 Mobile 07980 999149 Mobile 07425 622928 Email [email protected] www.osborneking.com/auction Email [email protected] Email [email protected] 2 WHY OSBORNE KING? OSBORNE KING IS ONE OF THE TOP UK AUCTION HOUSES WHY CHOOSE SALE BY AUCTION? — Provide efficient and cost — Allow the property to be effective method of sale to comprehensively market a captive audience; tested and sold in a transparent forum; — Provide a legally binding, unconditional contract and a — Allow for the best price 10% non-refundable deposit to be reasonably paid on the day; obtained in the market; OSBORNE KING Osborne King is Northern Ireland’s largest independent PLACED 6TH IN THE and longest established firm of commercial property UK TOP COMMERCIAL consultants. We work closely with an extensive and diverse AUCTIONEERS IN 2017 range of clients to identify, develop and deliver property Osborne King, Northern Ireland’s largest solutions tailored to their specific needs. Clients are offered independent property consultancy, has been ranked 6th in the UK’s listing of UK a full range of property services that include: Top Commercial Auctioneers for 2017 according to figures released recently SECTOR CONTACT EMAIL by the Essential Information Group (EIG). It is the only independent Northern Irish property consultancy to feature Auction Mark Carron [email protected] on a list dominated largely by London-based companies. Consultancy Paul Henry [email protected] The company has been actively involved Development Land – Thomas Osborne [email protected] in auctions since 2011 and has enjoyed Commercial and Residential an overall success rate of 95% since then Energy Performance Certification Sean O’Neill [email protected] compared to the UK average success rate and Health & Safety Compliance of 76%. Its last auction, which was held in June 2017, achieved a 89% success Industrial Chris Sweeney [email protected] rate and featured lots ranging from residential and commercial premises to Investment Gavin Clarke [email protected] agricultural and development land across the province and the border counties. Licensed & Leisure Mark Carron [email protected] On the day, sale prices comfortably Office Richard McCaig [email protected] exceeded their maximum reserve prices in a significant number of cases and Professional Services /Valuation Martin McDowell [email protected] raised approximately £11.6 million. Robert Watson [email protected] David McClure [email protected] Mark Carron, head of Osborne King’s auction team, commented, “There is Property and Frank Cassidy [email protected] no doubt in my mind that confidence Asset Management Damian Conwell [email protected] is growing steadily within the property market. We have a large number of Rating Robert Watson [email protected] repeat buyers and bidders at our Restructuring Enforcement Paul Henry [email protected] auctions, however, we are also and Insolvency noticing the emergence of new buyers who have not engaged Retail Gareth Howell [email protected] with the auction process until now. “ 3 WHY AUCTION? Osborne King’s auctions demonstrate that sales can be achieved even in a challenging market which is borne out in our 95% success rate since 2011. In addition auctions: – Provide an efficient and cost effective method of sale to a captive audience; – Provide a legally binding, unconditional Contract and a 10% non-refundable deposit paid on the day; – Allow the property to be comprehensively market-tested and sold in a transparent forum; – Allow for the best price to be reasonably obtained in the market. AVERAGE SALE PRICE PROPERTY SECTOR 1% 1% In the current market, sale prices are providing purchasers The chart below outlines the 3% with very attractive investment / owner-occupier opportunities. type of property offered 5% Following the sale of 632 out of the 668 lots offered, 74.8% of and sold by Osborne King. 8% lots sold for less than £100k, 19.8% between £100k - £250k, The most popular property 26% 3.3% between £250k - £400k, 0.5% between £400k - £500k sector being offered for and 1.6% over £500k. sale is residential development 15% land and vacant residential property closely followed by vacant commercial. 74.8% 19.8% 3.3% 18% 23% BETWEEN BETWEEN BETWEEN £0-£100k £100k- £250k £250k- £400k 26% RESIDENTIAL 15% RESIDENTIAL 3% COMMERCIAL 0.5% 1.6% DEVELOPMENT LAND INVESTMENT DEVELOPMENT LAND RESIDENTIAL COMMERCIAL LEISURE PUB 23% 8% 1% BETWEEN + VACANT INVESTMENT HOTEL £400k- £500k £500k 18% COMMERCIAL 5% AGRICULTURAL 1% MIXED USE VACANT LAND INVESTMENT Source: OK Sept 2017 Source: OK Sept 2017 SUCCESS RATE CLIENTS/ VENDORS 3.5% SEPTEMBER 2011 - JUNE 2017 The majority of auction clients MORTGAGEE continue to emanate from 5.5% ADMINISTRATOR 1% primarily receivers and OTHER corporate clients with 95% 19% approximately one in PRIVATE SOLD five instructions coming 5% from private clients. 24.5% UNSOLD CORPORATE 46.5% RECEIVER Source: OK Sept 2017 Source: OK Sept 2017 4 IMPORTANT AUCTION INFORMATION FOR PURCHASERS IF YOU INTEND TO PURCHASE COMPANIES MUST PROVIDE A PROPERTY ON THE DAY OF THE FOLLOWING: THE AUCTION PLEASE NOTE The bidder must provide proof of name and address THE FOLLOWING: (see private purchaser) and additionally the company must provide both of the following: — You should arrive in good time to register and listen to the Auctioneers announcements. The auction — Evidence that the bidder has the authority to commences at 11am sharp. represent the company — You should ask staff for a copy of any Addendum — Certificate of Incorporation for the chosen company as this will detail any changes relating to the properties. — You should direct any questions to a member of the Auction Team or the vendors solicitor prior to the commencement of the auction. No questions DEPOSIT will be answered during the sale. Immediately after the fall of the gavel the purchaser will — You should be aware that when the gavel falls and be required to pay a purchaser’s deposit of 10% of the you are the successful bidder that you are under agreed purchase price subject to a minimum deposit an unconditional binding contract to purchase of £5,000. Payments can be made as follows: the property. — Cheque — You should make yourself available to go the vendor’s — Bank draft solicitors desk to sign the unconditional contract — Debit Card (£25 charge to pay by this method) and you will be required to pay the deposit. Please note that cash or credit card payments will not be accepted. PLEASE NOTE A PRIVATE PURCHASER TITLE/LEGAL PACK SHOULD BE ABLE TO PROVIDE (AVAILABLE ONLINE) THE FOLLOWING: The vendors solicitor prepares the Title/Legal Pack — Proof of Identity: Driving Licence with Photograph for each of the lots listed. Once Osborne King receive or Valid Passport the information then an interested party is then able to download the pack from our website as follows: — Proof of Address: Valid Driving Licence or current www.osborneking.com/auction. Once you register Utility Bill or current Bank /Building Society Statement against a particluar lot you will then receive automatic email notifications of any additions/amendments to Photocopies will be taken of these documents the Title/Legal Pack. and will be retained to comply with money laundering regulations. 5 LOT ORDER LOT NO. ADDRESS **MAX RESERVE 1 10 West Street, Portadown, Co Armagh, BT62 3PD £50,000 2 32 Station Road, Magherafelt, Co Londonderry, BT45 5DN £50,000 3 24 Moat Street, Donaghadee, Co Down, BT21 0DA £55,000 4 2 Killymoon Street, Cookstown, Co Tyrone, BT80 8JZ £80,000 5 Development
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