PROPERTIES GOING UNDER THE HAMMER OSBORNE KING PROPERTY AUCTION FRIDAY 22 MARCH 2013 11am at the Olympic Suite, Holiday Inn, Ormeau Avenue, 22 MARCH 2013 PROPERTY AUCTION Belfast BT2 8HS INSTINCTIVE EXCELLENCE IN PROPERTY WWW.OSBORNEKING.COM/AUCTION 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SALE OF COMMERCIAL, RESIDENTIAL PROPERTIES, INVESTMENTS, LAND AND DEVELOPMENT OPPORTUNITIES (UNLESS PREVIOUSLY SOLD OR WITHDRAWN) ON BEHALF OF OUR CLIENTS: RECEIVERS, ADMINISTRATORS, MORTGAGEES, FINANCIAL INSTITUTIONS, PRIVATE CLIENTS AND OTHER.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, 22nd March 2013, at 11am at the Olympic Suite, Holiday Inn, 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| | | | | | OPERA CENTRAL | Y | A | HOUSE STATION | W | R | AUCTION ENQUIRIES TO | O | M | | 1 | M ORMEAU AVENUE | CROMAC STREET | For all enquiries about any of the || | || | | | || | | | properties within the catalogue, | GREAT | | | | | | | VICTORIA | bidding at auction or to submit a | | | | | STREET | | | | | property for our next auction please | STATION | | | | | | | | | | contact any of the Auction Team. | | | | | | | | | | | | | | | | | | | | | | | | Telephone 028 9027 0000 | | | | | | DUBLIN ROAD | | | | | | | | | | | | | | | | | | | | | www.osborneking.com/auction Mark Carron MRICS John Martin FRICS Thomas Osborne BSc Hons Lisa Anderson Auctioneer Auctioneer Graduate Surveyor Auction Co-ordinator Telephone 028 9027 0016 Telephone 028 9027 0018 Telephone 028 9027 0036 Telephone 028 9027 0041 Mobile 07980 999149 Mobile 07956 207702 Mobile 07425 622928 Email [email protected] Email [email protected] Email [email protected] Email [email protected] NEXT AUCTION: 14 JUNE 2013 (Closing date for entries Wednesday 8th May 2013) 02 WHY OSBORNE KING? OSBORNE KING ARE ONE OF WHY CHOOSE SALE BY AUCTION? — Efficient and cost effective way of selling property THE TOP 8 UK AUCTION HOUSES to a captive audience SOURCE: ESTATES GAZETTE 14 JULY 2012 — A legally binding unconditional contract on the Since September 2011 Osborne King have held five commercial/residential fall of the hammer, thereby providing certainty property auctions raising approximately £8 million with an exceptional overall disposal rate of c. 88%, considerably greater than the current UK industry — The property is marketed in an open sale rate reflecting c. 73% (source: Essential Information Group Dec 2012). and transparent forum — Opportunity to achieve best price in market Osborne King’s final auction of 2012 resulted in a 100% sale with all via competitive bidding 36 lots on offer being sold, raising in excess of £2.5 million. Our consistent sales performance, even in this difficult market, means that Osborne King is — Comprehensive marketing exposure gained recognised as one of the top 8 UK auction houses (source EG 14 July 2012). via auction process Osborne King is one of Northern Ireland’s largest independent and longest established firms of commercial property consultants. We have worked closely with an extensive and diverse range of clients to identify, develop and deliver property solutions tailored to their specific needs. Clients are offered a full range of property services that include: SECTOR CONTACT EMAIL Investment Robert Ditty [email protected] Andrew Coggins [email protected] Retail Colin Mathewson [email protected] Office Robert Ditty [email protected] Harry Crosby [email protected] Industrial Chris Sweeney [email protected] Licensed Premises John Martin [email protected] Mark Carron [email protected] Development Land – Mark Carron [email protected] Commercial and Residential Chris Sweeney [email protected] Auction Mark Carron [email protected] John Martin [email protected] Property and Gareth Kimpton [email protected] Asset Management Gareth Howell [email protected] Professional Services /Valuation Martin McDowell [email protected] Robert Watson [email protected] David McClure [email protected] Rating Robert Watson [email protected] Restructuring Enforcement Gavin Clarke [email protected] and Insolvency Paul Henry [email protected] Consultancy Paul Henry [email protected] Energy Performance Certification Sean O’Neill [email protected] and Health & Safety Compliance 03 IMPORTANT AUCTION INFORMATION FOR PURCHASERS IF YOU INTEND TO PURCHASE A PROPERTY COMPANIES MUST PROVIDE THE FOLLOWING: ON THE DAY OF THE AUCTION PLEASE NOTE The bidder must provide proof of name and address THE FOLLOWING: (see private purchaser) and additionally the company — You should arrive in good time to register and listen must provide both of the following: to the Auctioneers announcements. The auction commences at 11am sharp. — Evidence that the bidder has the authority to represent the company — You should ask staff for a copy of any Addendum as this will detail any changes relating to the properties. — Certificate of Incorporation for the chosen company — You should direct any questions to a member of the Auction Team or the vendors solicitor prior to the DEPOSIT commencement of the auction. No questions will Immediately after the fall of the gavel the purchaser will be answered during the sale. be required to pay a purchaser’s deposit of 10% of the agreed purchase price subject to a minimum payment — You should be aware that when the gavel falls and of £2,500. Payments can be made as follows: you are the successful bidder that you are under an unconditional binding contract to purchase — Cheque the property. — Bank draft — Debit Card (not credit) — You should make yourself available to go the vendor’s solicitors desk to sign the unconditional contract and Please note that cash or credit payments will you will be required to pay the deposit. not be accepted. PLEASE NOTE A PRIVATE PURCHASER SHOULD OSBORNE KING DO NOT CHARGE PURCHASERS BE ABLE TO PROVIDE THE FOLLOWING: ANY REGISTRATION OR ADMINISTRATION FEES. — Proof of Identity: Driving Licence With Photograph or Valid Passport — Proof of Address: Valid Driving Licence or Current Utility Bill or current Bank/Building Society Statement Copies of these documents will be taken and retained to comply with regulatory processes. 04 WHY AUCTION? Osborne King’s auctions demonstrate that sales can be achieved even in a challenging market which is borne out in our 88% success rate over five auctions 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. AUCTION ANALYSIS PROPERTY SECTOR Success rate September 2011 - November 2012 The chart below outlines the type of property offered and sold by Osborne King over the last four auctions. 2% 88% COMMERCIAL 3% DEVELOPMENT LAND 4% SOLD MIXED USE INVESTMENT 28% 5% LEISURE PUB 12% HOTEL UNSOLD COMMERCIAL Source: OK January 2013 INVESTMENT 13% RESIDENTIAL INVESTMENT AVERAGE SALE PRICE COMMERCIAL In the current market, sale prices are 81% VACANT at a five year low providing purchasers BETWEEN RESIDENTIAL 24% 21% VACANT with very attractive investment / owner £0-£100k occupier opportunities. Following the RESIDENTIAL DEVELOPMENT LAND Source: OK January 2013 sale of 106 out of the 122 lots 18% offered, 81% of lots sold for less BETWEEN than £100,000, 18% between £100k- £250k CLIENT/ VENDORS £100,000 - £250,000 and 1% In our last two auctions the sale instructions from private between £250,000 - £400,000. 1% clients have increased from 4% in our first auction to BETWEEN £250k- £400k 39% in our third auction as well as others which represents either Government or Trustee led instructions. 5% 5% CORPORATE 7% OTHER REGISTERED BIDDERS ADMINISTRATOR The overwhelming majority of registered bidders at our auctions are from Northern Ireland, however, we are seeing some interest from Great Britain and the Republic of Ireland. 11% MORTGAGEE 47% 98% 1% 1% RECEIVER NORTHERN REPUBLIC GREAT 25% IRELAND OF IRELAND BRITAIN PRIVATE Source: OK January 2013 05 PROPERTIES GOING UNDER THE HAMMER LOTS 01– 27 LOT ORDER LOT ** MAXIMUM NO. ADDRESS RESERVE 01 Hotel Carlton, 2 Main Street, Belleek, Co Fermanagh BT93 3FX £300,000 02 69 Derryree Wood, Lisnaskea, Co Fermanagh BT92 0LG £65,000 03 37 Crossnadonnell Road, Limavady, Co Londonderry BT49 0BD £65,000 04 57 Birchdale Manor, Lurgan, Co Armagh BT66 7SY £57,000 05 Anson House, 240-242 Upper Newtownards Road, Belfast Co. Down BT4 3EU £200,000 06 15 Castle View Park, Richhill, Co Armagh BT61 9QZ £55,000 07 29 Glenveagh Park, Belfast, Co Antrim BT11 8EP £55,000 08 3 Cuthbert Street, Derry, Co Londonderry BT47 2EX £30,000 09 373 Woodstock Road, Belfast, Co Down BT6 8PU £38,000 10 47 Reid Street, Belfast, Co Down, BT6 8PE £52,000 11 15 Annahugh Hill, Loughgall, Co Armagh BT61 8DD £70,000 12 Site Adjacent To 299 Foreglen Road, Dungiven, Co. Londonderry BT47 4PJ £20,000 13 44 Iveagh Parade, Belfast, Co Antrim BT12 6AZ £46,000 14 49 Malcolmson
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