PROPERTIES GOING UNDER THE HAMMER OSBORNE KING PROPERTY AUCTION FRIDAY 29 NOVEMBER 2013 11am at the Olympic Suite, Holiday Inn, Ormeau Avenue, 29 NOVEMBER 2013 PROPERTY AUCTION Belfast BT2 8HS 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SALE OF COMMERCIAL, RESIDENTIAL PROPERTIES, INVESTMENTS, LAND AND DEVELOPMENT OPPORTUNITIES (UNLESS PREVIOUSLY SOLD OR WITHDRAWN) ON BEHALF OF OUR CLIENTS: RECEIVERS, ADMINISTRATORS, MORTGAGEES, FINANCIAL INSTITUTIONS, PRIVATE CLIENTS AND OTHER.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, 29 November 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 | For all enquiries about any of the CROMAC STREET | || | || | | | || | properties within the catalogue, | | | GREAT | | | | | | | bidding at auction or to submit a VICTORIA | | | | | | 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 MRICS Lisa Anderson Auctioneer Auctioneer Chartered 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: MARCH 2014 02 WHY OSBORNE KING? OSBORNE KING IS ONE OF THE TOP 8 UK AUCTION HOUSES SOURCE: ESTATES GAZETTE 14 JULY 2012 WHY CHOOSE SALE BY AUCTION? — Allow the property to be — Provide efficient and cost comprehensively market effective method of sale to tested and sold in a a captive audience; transparent forum; — Provide a legally binding, — Allow for the best price unconditional contract and a to be reasonably obtained 10% non-refundable deposit in the market; paid on the day; Osborne King is one of Northern Ireland’s largest independent and longest established firms of commercial property consultants. We work 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 IMPORTANT AUCTION INFORMATION FOR PURCHASERS IF YOU INTEND TO PURCHASE A PROPERTY IF YOU INTEND TO PURCHASE A PROPERTY ON THE DAY OF THE AUCTION PLEASE NOTE ON THE DAY OF THE AUCTION PLEASE NOTE THE FOLLOWING: THE FOLLOWING: — You should arrive in good time to register and listen — You should arrive in good time to register and listen to the Auctioneers announcements. The auction to the Auctioneers announcements. The auction commences at 11am sharp. commences at 11am sharp. — You should ask staff for a copy of any Addendum — You should ask staff for a copy of any Addendum as this will detail any changes relating to the properties. as this will detail any changes relating to the properties. — You should direct any questions to a member of — You should direct any questions to a member of the Auction Team or the vendors solicitor prior to the Auction Team or the vendors solicitor prior to the commencement of the auction. No questions the commencement of the auction. No questions will be answered during the sale. will be answered during the sale. — You should be aware that when the gavel falls and — You should be aware that when the gavel falls and you are the successful bidder that you are under you are the successful bidder that you are under an unconditional binding contract to purchase an unconditional binding contract to purchase the property. the property. — You should make yourself available to go the vendor’s — You should make yourself available to go the vendor’s solicitors desk to sign the unconditional contract solicitors desk to sign the unconditional contract and you will be required to pay the deposit. and you will be required to pay the deposit. PLEASE NOTE A PRIVATE PURCHASER SHOULD BE ABLE TO PROVIDE THE FOLLOWING: OSBORNE KING — Proof of Identity: Driving Licence with Photograph or Valid Passport DOES NOT CHARGE A — Proof of Address: Valid Driving Licence or Current Utility Bill or current Bank /Building Society Statement BUYER’S PREMIUM OR Copies of these documents will be taken and retained ADMINISTRATION FEE 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 born out in our 92% success rate over seven 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 Success rate SepT 2011 - JunE 2013 PROPERTY SECTOR The chart below outlines 1% the type of property offered 1% 2% 92% and sold by Osborne King 3% SOLD over the last seven auctions. 5% The most popular property 27% sector being offered for sale 14% 8% is now residential UNSOLD Source: OK Sept 2013 development land. This sector is closely AVERAGE SALE PRICE followed by vacant 85% residential and vacant 19% In the current market, sale prices are at BETWEEN 28% £0-£100k commercial property. a five-year low providing purchasers with very attractive investment / owner 13% occupier opportunities. Following the BETWEEN RESIDENTIAL RESIDENTIAL MIXED USE £100k- £250k VACANT INVESTMENT INVESTMENT sale of 161 out of the 177 lots offered, 1% RESIDENTIAL COMMERCIAL COMMERCIAL 85% of lots sold for less than £100k, BETWEEN DEVELOPMENT LAND INVESTMENT DEVELOPMENT LAND 13% between £100k - £250k, 1% £250k- £400k COMMERCIAL LEISURE PUB AGRICULTURAL between £250k - £400k and 1% 1% VACANT HOTEL LAND between £250k - £400k. BETWEEN £250k- £400k Source: OK Sept 2013 7% CLIENTS/ VENDORS CORPORATE 3% 9% OTHER It will come as no surprise that the overwhelming majority of sales are from ADMINISTRATOR receivers, followed by private clients, mortgagees, administrators, government and trustee-led clients. We expect this trend to continue in 2013. Noticeably in 11% our recent auctions sales from private clients has increased with an average of MORTGAGEE 22%. This trend reinforces that private clients now see auctions as an effective 48% method to achieving a sale particularly where the property has been previously RECEIVER marketed by traditional methods without success. 22% Source: OK Sept 2013 PRIVATE 05 LOT ORDER OSBORNE KING DOES NOT CHARGE A BUYER’S PREMIUM OR ADMINISTRATION FEE LOT NO. ADDRESS **MAX RESERVE 01 Site at Ballycrummy Road, Armagh, Co Armagh BT60 4LB £250,000 02 2a Hayesbank Park, Derry, Co Londonderry BT47 2AZ £70,000 03 89 Malone Avenue, Belfast, Co Antrim BT9 6EN £80,000 04 240 Alliance Avenue, Belfast, Co Antrim BT14 7NX £35,000 05 Development opportunity at 1 Letterloan Road, Coleraine, Co Londonderry BT51 4PP £15,000 06 42 Monagh Drive, Belfast, Co Antrim BT11 8ED £40,000 07 Development opportunity at Silverwood Road / Francis Street, Lurgan, Co Armagh BT66 6DN £80,000 08 Site at Manse Road, Ballyward, Co Down BT31 9QP £10,000 09 35 Keelmount Grange, Scotch Street, Portadown, Co Armagh BT62 1UE £58,000 10 Development Opportunity at 18 The Square, Coalisland, Co Tyrone BT71 4LW £18,000 11 51 Castle Street, Ballycastle, Co Antrim BT54 6AS £30,000 12 81 Iris Drive, Belfast, Co Antrim BT12 7BL £45,000 13 40 Carlisle Road, Derry, Co Londonderry BT48 6JW £50,000 14 59 Cavendish Street, Belfast, Co Antrim BT12 7AW £43,000 15 Former Anglers Rest, 139 Vow Road, Ballymoney, Co Antrim BT53 7NU £40,000