Charles Darrow has announced the forthcoming sale by auction of one of Torbay’s largest private investment property portfolios, with an estimated combined value of around £6 million.
The high yielding portfolio, comprising a mix of residential, commercial and HMO properties, is for sale either as a whole, in part, or as individual lots with guide prices starting from £125,000. A large potential development site in Torquay is also included among the lots.
The Auction will take place on March 3rd 2015 at the Grosvenor House Hotel on London’s Park Lane, in association with Network Auctions. Bids are, of course, also welcome prior to auction.
Newton Abbot based Charles Darrow is anticipating that the portfolio will attract keen interest from property investors.
“We are delighted to be offering these properties for sale on behalf of our clients,” Director Martin Blacoe said.
“It’s rare to see investment portfolios of this size coming to the market. This is a private portfolio which has been built up over a number of years and, in our opinion, they will give the future owners an exceptional return on their investment.
“The properties are producing yields of up to 16 per cent based on their auction guide prices, which is superb.”
Martin believes that selling the portfolio at auction has two primary advantages. The first is that, in partnering with a successful London based auctioneer, the client will benefit from the properties receiving the widest possible exposure.
The second reason for choosing the auction sale route is the certainty it provides to the buyer. “Experience tells us that investors like to be sure the deal is done,” he explained.
Entries are still available for the London auction, and Charles Darrow urges vendors seeking a sale before the end of March to seriously consider selling their properties via this method.
Story: Neil Bird
Photo: Charles Darrow
