625
THE ESTATES GAZETTE
Aran, 15, 1899.
at a ground rent of £12 12s., and of the estimated yearly rental of £100, was offered by Mr. Clarke, without reserve, and sold for £690.
Two freehold shops and ״ ״,hops l", premises, Nos. 228 and 228a, zr- Commercial-road, E., each let at £45 per annum, the tenants paying rates and taxes, were quickly sold by Mr. A. A. Hollingsworth, for £1,400. Two freehold ground rents, each of £50. secured upon newly-erected flats in Highbury-crescent, West Highbury, with reversion to the rack rents, amounting to £360 and £875, in 99 years, were withdrawn by Mr. G. F. Vine (Messrs. Rutley, Son and Vine) at 26 years’ purchase. The lots sold at this auction comprised an 11-roomed house, No. 191, Euston-road, of the rental value of £80 per annum, but leasehold for a term of which only 8f years are to run at a ground rent of £15 15s., which realised £220, and two freehold weekly houses in Marian-street, High-street, Homerton, producing £46 3s. per annum, landlord paying rates and taxes, which were purchased for £300. Mr. Douglas Young (Messrs. Douglas Young and Co.) sold two semidetached leasehold residences, Nos. 13 and 15, Macaulay-road, Clapham-common, together of the estimated rental value of £150 per annum, leasehold for 73 years at a ground rent of £10 and £11 respectively, for £1,800, whilst he withdrew the corner licensed premises, No. 37, Alexander-street, Westbourne-gardens, let upon lease at £150 per annum, lease 50 years unexpired, ground rent £10, at £2,800. A pair of semi-detached residences in Vicarage-road, Tottenham, producing £54 10s., were disposed of by Mr. T. G. Wharton for £785, the same auctioneer also selling a long-leasehold terrace house in Fulham, let at £32 a year, and subjected to a ground rent of £8, for £415. Among other auctioneers engaged was Mr. Edwin Fox (Messrs. Edwin Fox and Bousfield), who sold a free- * hold residence, known as 38, Hillrise, Richmond, let at £52 10s., for £1,670.
Mr. Fox also dealt with Stocks^Shares stocks and shares in various Reversions, prosperous undertakings, which were competed for by a large number of investors and financiers, with the following result:—Sandown-park Racecourse £10 shares, sold at 12J ; Shirebrook Colliery £100 original Ordinary shares at 95 ; Alexandra Hotel £10 shares at 10J; North Middlesex Gas Company £10 Ordinary seven per cent, shares at 16J ; Brentford Gas Company Consolidated stock at 279, and New seven per cent, stock at 213 ; Bromley Gas Company £10 Ordinary shares at 21 ; Commercial Gas Company New stock at 247 ; W. Bacon and Co. £5 shares at 5(,- and 5f ; Patent Victoria Stone Company £5 shares at 9J ; and other companies. A substantial total was realised by Mr. Alfred Richards at his sale of gas and water stocks and shares. Messrs. Laing, Waters and Co., of High Holborn, held one of their periodical sales of reversionary properties and other interests, which was conducted by Mr. F. J. V. Furnivali. A few of the lots had to be withdrawn, but the absolute reversion to a third share of freehold properties in Cambridge and neighbourhood, valued at £2,950, receivable on the death of the survivor of two ladies born in 1818 and 1848, or on the death of the elder or remarriage of the younger, was disposed of in the room before the sale for £250, and the share of freehold properties, valued at £722, receivable on the death of a lady aged 62, was subsequently sold for £85.
Thursday.
Mr. Edmund G. Woods P Shr°tP in (Messrs. Woods, of Newgate-BaUs-pond! street) obtained numerous offers this afternoon for a freehold shop property, Nos. 1 to 4, St. Paul’s-mansions, Balls-pond-road, together producing an income of £195 per annum, the tenants in each case paying the rates and taxes. It realised £3,420, which was considered a very good price. Some goodletting and substantial properties at Walthamstow were well placed by Mr. G. E. Clarke ; freehold shop premises in Orford-road, occupied by a butcher who pays a rental of £50 a year, realising £970 ; five long-leasehold houses in Canning-road,
jected new street from the Strand to Holborn. At present the property is let in tenements, which, when fully let, produce £100 per annum. The possibility of an increase in value, owing to the improvements contemplated, enabled the auctioneer, Mr. George F. Harrington, to extract a bid of £995, for which amount the premises were disposed of.
w , _ . Mr. R. Stafford Charles, Houses”	New Broad-street, was
announced to offer the town house, No. 6, Hyde-park gate, leasehold for an unexpired term of 45 years, at a ground rent of £25 per annum. Mr. Charles, however, was unable, through indisposition, to officiate, his place in the rostrum being taken by Mr. F. H. B. Riddle. The auction resulted in the withdrawal of the property at £4,150; but the freehold stabling and coach-house, No. 4, Hyde - park - gate - mews, estimated rental value £60 a year, realised £750. The family residences, Nos. 15 and 16, Airlie-gardens, Campden-hill, Kensington, let at £290 and £275, and held under long leases, at a ground rent of £40, were withdrawn at £3,000 and £8,100 respectively. Mr. Woods, of Hounslow, was responsible for the disposal of a residence and shop, No. 5, Clissold-cottages, Fortis-green-road, leasehold for the short unexpired term of 15 years at a ground rent of £2 8s., for £205, and a leasehold beerhouse distinguished as the Courtney Arms, in the village of Heston, producing £104 per annum, 12 years unexpired, ground rent £8, for £500. Freehold building land in Tachbrook-road, Feltham, was sold by Mr. Woods, at £1 per foot frontage. Other transactions included the sale of a block of freehold building land having a frontage of 148ft. to Addison-road, Walthamstow, and a similar site with a frontage of 122ft. to Norfolk-street, Iligham-hill, Walthamstow, by Mr. Wm. Houghton, for £700 and £300 respectively. The sale of residential properties in Pimlico, Sydenham, and Upper Norwood, by Mr. W. Bennett Rogers (Messrs. Rogers, Chapman and Thomas), for a total of £3,933, brought the aggregate realisation for the day to £44,255.
Wednesday.
Ten freehold weekly cottages in Garvary-road, Canning Town, ltt at 8s. per week, and thus producing £208 per annum, the landlord paying rates and taxes, were bought in to-day by Mr. R. S. Alder (Messrs. Alder and Co.) at £2,250. The highest offer fell a good deal short of £1,000, which showed that there was a considerable difference of opinion as to the value of the property. There were certainly not many buyers in the room. Had the attendance been larger, perhaps the reserve would have been more closely approached. The lease of the Lundy Island Granite Quarries, which confers the sole right of quarrying for granite, porphyry and other stone for a period of 21 years, from December 21,1896, was also offered by Mr. Alder. It appears that the lease is determinable by the lessee only at the end of the 7th or 14th year, with power of renewal for a further term of 21 years, optional on the part of the lessee only, subject to the payment of a minimum yearly rent of £200, but such rent merging in royalties, with average about 6d. a ton. The quarries are estimated to contain about 800 million cubic feet of granite. The offer of this somewhat exceptional property attracted but little attention. There were not many bids, and the lot was withdrawn at £550. There was an excellent competition for a freehold property, Nos. 1 to 8, Bank-villas, High-road, Ilford, let at rentals amounting to £172 18s. per annum, the landlord paying rates and taxes. Mr. J. J. Clarke (Messrs. Martin, Clarke and Co.) was the auctioneer concerned, and it was quite evident that his reserve was more than the anxious bidders intended giving. £2,100 was reached, but Mr. Clarke declared that he could not sell at that figure. Many were anxious to know the reserve, but their curiosity was not satisfied until, eventually, he said “ Give me £2,150 and I will knock it down.” “ Very well, then,” replied a bidder, and the houses thus changed hands. A West-end residence, No. 34, St. Oharles-square, Kensington, leasehold for an unexpired term of 73 years
Granite
Quarries.
having a good variety to choose from. The well-known firm of Debenham, Tewson, Farmer and Bridgewater were represented, and although their list on this occasion was somewhat short, it formed, as usual, a special attraction. The principal lot comprised a freehold ground rent of £780 per annum, secured upon the modern premises, Nos. 14 and 15, Poultry, in the City of London. The property, which is situate on the south side of the thoroughfare, covers a total ground area of about 2,360 square feet, and comprises a front ornamental building with five floors and a basement, the ground floor being used as a double-fronted shop, about 37ft. deep, and a building in the rear, with which the front premises are connected. It is let on lease for an unexpired term of 47-J years, at the expiration of which the purchaser will be entitled to the rack rents, now estimated at about £2,750 per annum gross. The auctioneer, Mr. Edward Tewson, was very brief. “ ‘ Good wine needs no bush,’ and I shall not waste your time by expatiating upon the advantages of this security.” This was how he started, and then he went on, “ I look upon this as a 2£ per cent, investment. If the purchaser gets Consols interest on the property for 47 years, and the valuable reversion at the end of that period, he will be doing exceedingly well. In 1896 we sold the adjoining premises, No. 16, which were let for 42 years at £600, and covered an area of 670ft. for £18,300. That was the price realised in one of these rooms—£27 6s. per foot. Now if you take this property even at £25 per foot, which represents the very minimum value, it will give £59,000 for the land alone, assuming that there is no further advance in value.” Starting at £20,000, the bidding reached £80,250 by slow stages, and the ground rent was eventually sold at that figure, which represents nearly 89 years purchase. Mr. Tewson was understood to say that this price fell about £1,000 short of his estimate of the value. At the same auction 27-J- years purchase was obtained for freehold ground rents amounting to £36 per annum secured upon a block of six shops and dwelling houses in Merton-road, Wimbledon, together of the estimated rack rental value of £150 per annum.
A large number of freehold Freehold Resi-jj0USe3 ¡n Lewin-road, Streat-
Streatham. ham> were submitted by Mr.
Hill Clarke, of that locality. This was a capital opportunity for investors, the investments being of a very sound character, but, strange to say, the competition was not by any means encouraging to the auctioneer, who was only able to dispose of four lots. These consisted of Nos. 85 and 37, Lewin-road, each let at £50 per annum, which together realised £1 455, and Nos. 93 and 95, in the same thoroughfare, tbe former let at £40 a year, and the latter offered with possession ; they fetched £1,080. Mr. France, of Wal-worth-road, was most successful in regard to a number of leasehold properties in Kennington, Vauxhall, and Camberwell, every lot being sold for a good total. Two leasehold houses in Tate-street, Vauxhall, together producing £67 12s. per annum, and held for about 48 years unexpired, each at a ground rent of £5, realised £430, a house in Benhill-road, Camberwell, let monthly, and producing £27 per annum, 72 years unexpired at a ground rent of £5, £310 ; and a leasehold factory or warehouse in Bowden-street, Kenmngton-cross, rental £45 per annum, 34 years unexpired, ground rent £10, £320. A leasehold property consisting of a shop and residential premises, No. 9, Kensington High-street, held for 50 years from December 25, 1886-, at a ground rent of £120 per annum for the first 21 years, and £150 per annum for the remainder of the term, and producing a present profit rental of £340 per annum, was in the hands of Mr. W. B. Hallett, but was withdrawn in the ! absence of buyers at £4,400. Mr. Hallett i received no offer for a second lot comprising ' corner business premises, No. 37, Kensington High-street. Some little importance was attached to the offer of the freehold premises, No. 36, Great Wild-street, Drury-lane, which have an area of about 700ft., and are situated close to the line of the pro-
JVIems from the JVIart
Monday.
Of the eight knights of the London hammer engaged at Token-Investments. house-yard on the opening day of tbe week, none had better reason to be gratified with the result of their labours than Mr. Fred Varley, of Finsbury-park. It was noticeable that this gentleman had everything to his advantage —a crowded room and plenty of genuine buyers for all the properties submitted, which consisted principally of small brick and mortar investments in the north of London. A semi-detached house in Syd-ney-road, Hornsey, let upon a three years’ agreement at £34 per annum, and held for 75 years unexpired, at a ground rent of £8, realised £810 ; two freehold houses, Nos. 1 and 2, Maria-villas, Hereward-road, Tooting, let weekly, and producing £36 8s. per annum, £510; a long-leasehold dwelling house, No. 7, Roden-street, Seven Sisters-road, Holloway, offered with possession, estimated rental value £36 per annum, lease 61 years unexpired, at £6 ground rent, £855 ; and four plots of freehold building land, each having a frontage of 25ft. to Alexandra-park-road, Wood-green, and a depth of about 100ft., and suitable for the erection of villa residences, or to create ground rents, £360. These were all the lots offered by the Finsbury-park auctioneer, who, however, had sold a freehold house in Finchley-park, of the estimated rental value of £50 per annum, by private treaty, for £800. Mr. A. Roger Rowden (Messrs. May and Rowden) submitted improved ground rents amounting to £41 8s. per annum, secured upon ten houses in Upper Tollington-park, and a piece of land adjoining, held for 68 and 69 years unexpired, at a total ground rent of £50 per annum. The whole property is sub-let under eleven leases at ground rents together amounting to £91 8s. per annum, thus showing a net income represented by the amount now offered. It was sold for £800.
Small investments were also dealt with by Mr. Harry Jones (Messrs. Jones, Son and Day), and I need hardly add that this sale was well patronised. Of the eight lots submitted six were sold, £525 beiDg given for a freehold residence in High-road, Leytonstone, of the estimated rental value of£86 a year ; £280 for two freehold dwelling houses in St. Anne-street, Commercial road, Limehouse, together producing £35 2s. ; £720 for four dwelling houses in Bostock-street, Old Gravel-lane, St. George’s-in-the-East, together producing £67 12s. ; £325 for two leasehold houses in Hunslett-street, Globe-road, Betbnal-green, producing £59 16s. per annum, and also a leasehold ground rent of £3 a year, secured on a house adjoining, tbe whole property being held on lease for 35 years unexpired at a ground rent of £9; and £530 for freehold ground rents amounting to £29, secured on houses in Canal-road, Mile End-road, with reversion to the rack rents in 17£ years. One of tbe unsold lots comprised five plots of freehold building land, having together a total fromage of about 242ft. to Grove-park, Wanstead, Essex, which property was bought in at £1,000. A freehold shop property, Nos. 112 and 114, Goldhawk-road, Shepherd’s-bush, producing upon leases £140 per annum, was disposed of by Mr. Newman Chennells, of Hastings, acting in conjunction with Mr. T. H. Currie, for £2,265 ; whilst a det ׳ched residence, known as Cumberland House, Fellows-road, South Hampstead, let at £130 per annum, and held upon lease, direct from the Eton College Trustees, for 65-| years unexpired at a ground rent of £10 10s., was sold under the hammer of Mr. Samuel Walker for £1,180.
Tuesday.
After a somewhat slow be-Ground ginning yesterday, business Rent. was continued this afternoon with remarkable vigour, and there were signs all round that the effects of the Easter holidays had well passed away. There was an abundance of properties of almost every description in the market, investors thus