June 3, 1899.
THE ESTATES GAZETTE
960
Wokingham—W. Wilson, of Reading, at Wokingham, on June 7, Freehold property
Speen and Greenham—Dreweatt and Watson, of Newbury, at same, on June 13, Freehold building land, dwelling houses and shop
Harwell—E. Bond, of Thame, at Didcot, on June 8, Freehold residence
Reading—J. J. Cooper (J. Omer Cooper and Son), of Reading, at same, on July 11, Freehold dwelling houses and residence.
Newbury (near)—J. N. Day, of Newbury, at same, on June 9, building land.
Drayton and Sutton Wick—King and Adkin, of Abingdon. at same, on June 19. Freehold properties, agricultural land and building sites.
Abingdon (near)—King and Adkin, of Abingdon, at same, ׳on. June 26. arable and meadow land.
Buckinghamshire.
Chesham—W. Brown and Co., of Tring. at Chesham, on June 7, The Hawridge Court Estate Iver—R. Newman, of Hounslow, at Uxbridge, on June 8. Freehold residence and land_____
Cambridgeshire.
Dcwnham, etc—Bidwell and Sons, of Ely, at same, on June 15, Freehold and Copyhold properties.
March and Wisbech—Bidwell and Sons of Ely, at Wisbech, cn June 24, Freehold estate.
Newmarket—George Blencowe, of Bury St. Edmunds, at Newmarket, on June 5, Freehold properties.
Newton—S. and G. Kingston of Holbeach, at Wisbech, orTJune 10, Freehold property.
Trumpington—Bidwell and Son, of Cambridge, at same, on June 10, Freehold residence
Cambridge—Grain. Moyes and Wisbey, of Cambridge, at same, on June 14, Freehold properties
Cheshire.
Macclesfield—Brady and Son, of Manchester, at same, on June 6. Freehold residential estate Bowden—C. W. Provis and Son, of Manchester, at same, on June 13, Freehold residential property Wirswall—H. Manley and Sons, of Whitchurch, at same, on June 9. Freehold estate Macclesfield—Brady and Son, at Manchester, at Macclesfield, on June 13, Freehold estate comprising about 14 acres.
Burland—Cunnah and Roberts, of Chester, at Nant-wic-h, on June 15, residential estate.
Cornwall.
Gulval—Edward Eva, of Penzance, at same, on June 7, dwelling houses
Penzance, etc.—Edward Eva, of Penzance, at same, on June 10, Leasehold dwelling houses
Heamoor—A. C. Jenkin, of Penzance, at same, on June 6, Leasehold duelling houses and premises
St. Keveme—John Goad, of St. Keverne. at Helston, on June 7, Freehold farms and tenements.
Launceston—Skardon, Sons and) Hosking, of Plymouth, at Launceston, on June 28, Freehold licensed property.
Bcdmin—A. W. Dando. of Dudley, at Plymouth, on July 6. Freehold and Leasehold licensed properties
Cumberland.
Wigton—Oastiglione and Gibbing3, of Carlisle, at same, on June 5, The Wigton Brewery and 18 licensed properties
Carlisle (near)—R. Dalton and Son, of Carlisle, at same, on June 6, Freehold estate Carlisle—F. Telford, of Carlisle, at same, on June 7, dwelling houses	_ _
Oockermouth (near)—Messrs. Mitchell, of Cocker-mouth, at same, on June 5, residence Egremont—J. Smith, of Egremont, at same, on June 9, Freehold shop, dwelling house and cottages. Whitehaven—Dickinson and- Son. of Whitehaven, at same, on June 6, Freehold dwelling houses.
Pfnrith—Thornborrow and Co., of Penrith, at same, on June 15, Freehold dwelling houses, stables and premises.	.,
Carlisle (near)—Walton and Lee, 10, Mount-street, London. W.. at Carlisle, on July 15, Freehold residential and agricultural property.
ducing £74 per annum, and subjected to a j ground rent of £14 12s., £740, and a double-fronted house in Aldborough-gar-dens, let at £50, and held on a“ long lease at a ground rent of £11 5s., £490. Other transactions included the sale of the town residence, No. 66, Gloucester-terrace, let at £120 per annum, and held on a Bishop of London’s lease for 95f years, from June. 1844, by Mr. E. Stuart Dallas (Messrs. Prickett and Ellis) for £1,400, and of a freehold residence, No. 9, Victoria-road, Clapham-common, estimated rental £100 per annum, by Mr. Charles Hall for £1,170. The list of properties to be placed upon the market before Ascot is exceptionally heavy this year. No less than 63 auctions are announced for the forthcoming week, and a busy time is therefore in store for
Onlooker.
SALE OF GHEAPS1DE PROPERTY.
To the Editor of the ESTATES GAZETTE.
Sie,—There is nothing fallacious׳ in your statement that the price realised is equivalent to £59 4s. lid. per foot super in possession, and if you can spare the space we shall be pleased to enlighten your correspondent “A Property Buyer.”
The property is let for 18 years unexpired, at £400 per annum, area 95<2ft., price £28,500.
The correct and only proper method of making the calculation is as follows : —
£400 per annum for 18 years on the 4 per cent, table is 12.65930, which amounts to £5,063, deduct this amount from the purchase money of £28,500, and it leaves £23,437, as being the amount paid for the reversion in 18 years’ time. This sum amounts, upon the 5 per cent, table, to £56,404 in 18 years’ time, when possession of the property is obtained, and which is equivalent to £59 4s. 11 59/119d. per foot super.
The question as to the rate of interest which a purchaser should receive for liis investment must, of course, be one for individual opinion ; but our experience is that a purchaser is able to obtain 5 per cent, upon the purchase of a reversion for the somewhat distant period of 18 years.
Yours etc.,
DAVID BURNETT and Oo.
FORTHCOMING SALES BY AUCTION IN THE COUNTRY.
London Forthcoming Sales are given elsewhere׳ All announcements of sales should reach our Office by the first post on Thursday morning, or they cannot appear in the paver of the Saturday following.
Bedfordshire.
Derbyshire.
Ilkeston-^Peel and :Richardson, of Illteston, at same, on June 5, Freehold dwelling houses Matlock, etc.—Cumherland and Sons, of Derby, at Darley Dale, on June 15. Freehold properties Draycott—F. W. Kidd, of Nottingham, at Draycott.
on June 9, Freehold building land.
Derby—Cumberland and Sons, of Derby, at same, on June 16, dwelling houses, shop, and pasture land.
1 Alvaslon—J. and W. Heathcote, of Derby, at Alvas-ton. ora June Z0, building land.
Derby—J. and׳ W. Heathcote. of Derby, at same, on June 16. Freehold dwelling houses and cottages. Whaley Bridge (near)—Hopwood and Bateman, of Whaley Bridge, on June 7, farm.
Bedford—Stafford and Rogers, of Bedford, at same, on June 16, Freehold residences, dwelling houses, shops, and gardens.
Blunham—■R. F. Conder, of Biggleswade, at Blunham, on June 16, dwelling house, cottages and land.
Linslade—Driver and Co.. 25, Pail Mall, London, S.W., at Leighton Buzzard, on June 20, Freehold building estate.
Berkshire.
Reading—J. J. Cooper (J. Omer Cooper and Son), of Reading, at same, on June 8, Freehold residences and estate
Town Houses Lighted from Street .
Mains.
ELECTRIC LIGHTING.
Complete Plant!־ for
Country Houses, with Steam, Gas, or Oil Engines, or utilizing water power where available.
FITTINGS
ELECTRICAL ENGINEERS.
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Telegrams, “ DIFFUSER, LONDON." Telephone No. 3973 GERRARD.
dale-road,¡were sold under the hammerjfor £1,190. Other properties sold by Mr Wharton included two long - leasehold houses in Canterbury-road, Queen’s-park, Kilburn, together producing £51 per annum, ground rent £16, which were purchased for £660 ; and a similar house in the same thoroughfare f >r £295. Every lot offered by Messrs. Jas. Hood and Sons was disposed of, three freehold houses in Morris-street, Commercial-road, E., producing £80 12s., being placed for £900 ; two freehold houses in New Gravel-lane, Shadwell, let at £44 4s. per annum, for £845 ; and a freehold house and shop in Wapping-wall, in the same neighbourhood.¡let at £42 18s., for £335. I must not omit to mention the sale of a freehold weekly property in Selby-street	East, Whitechapel,	producing
£81 18s. per annum, by Mr. H. S. Hawley, of Southampton-row, for £840. Dwelling house properties in the East-end were, as usual, freely disposed of at a sale conducted by Mr. Alfred Moore (Messrs. C. 0. and T. Moore). Seventeen houses in Three Mill-lane and Imperial-street, St. Leonard’s-street, Bromley, held on leases having 95f and 65£ years to run, at a total ground rent of £40 and producing in weekly rents £314 12s. per annum, were sold for £1,990; two freehold weekly houses in St. Stephen’s-road, Tredegar-road, Bow, producing £41 12s. per annum, for £620 ; four ditto in Carlton-road, Gilpin-road, Lower Clapton, producing £79 6s., for £820 ; four ditto in Hockley-street, Morning - lane, Homerton, producing £67 12s., for £790 ; and a freehold house and shop in Mile-end-road, estimated to produce £45 per annum, for £710. A fair amount of business was done at Messrs. H. E. Foster and Cranfield’s periodical sale of reversions and policies. The only country property in the day’s list comprised the Heath Place Estate, Cowden, Kent, which consists of an ancient country house, farmery, cottages, meadows and woods, in all about 87 acres. It was offered by Mr. A. W. Brackett (Messrs. Wm. Brackett and Sons, of Tunbridge Wells), and withdrawn at £3,900
Friday.
There were not many pro-
Lhf8NorthS Per^es *n *׳k0 market this London. afternoon, and the proceedings were somewhat dull. Twenty-four acres of freehold land, situate within a few minutes’ walk of Church-end, Finchley, and comprising the remaining portion of the Finchley Manor Estate, was submitted by Mr. Victor Vaughan, and withdrawn without a single bid. It has a total frontage of 3,000ft., which the auctioneer valued at 5s. per foot, which would give a ground rent of £750 per annum—25 years’ purchase, £18,750. A few substantial houses in Dale-grove, North Finchley and Hertford-road, East Finchley, were also submitted and withdrawn. Mr. Mark Hubbard wanted £600 for each of two residences in Lawford-road, Kentish Town, held for an unexpired term of 62 years, at a ground rent of £5 8s., and each producing a net profit rental of £47 2s., but there was no genuine competition. Two similar houses in Torriano-avenue, Camden-road, 45 years’ lease, net profit rental £86 15s. per annum, were bought in by the Kentish Town auctioneer, each at £400 ; as also were two residences in Castle-road, each being held on a 36 years’ lease, and producing a profit rental of £28 10s. and £87 per annum. The sales effected by Mr. Hubbard included Nos. 1 and 3, Torriano - gardens, Camden-road, each leasehold for 93 years unexpired, at a ground rent of £4 10s., and let at £88, which realised £645; No. 38, Bochester-road, Kentish Town-road, lease 45 years, net profit rental £81 a year, which fetched £400 ; and Nos. 86 and 37, Castla-road, lease 36 years, total net profit rental £62, which were purchased for £670. Mr. James May, of Seven Kings, near Ilford, conducted his maiden sale at Tokenhouse-yard, and succeeded in selling several residences situate in that locality. Two long-leasehold villas in St. Alban’s - road, together producing £56 per annum, and each subjected to a ground rent of £5 Is., realised £600 ; a double-fronted long-leasehold residence in Cambridge-road, let at £36, ground rent £7 14s., £390 ; two long-leasehold double-fronted villas in EJgin-road, together pro-
all the properties in Mr. SimmondB׳ list were sold. Mr. C. D. Taylor (Messrs. C. C. Taylor and Son) must also be mentioned as having sold 15 weekly houses (one with shop) in Tibbatt’s-road, Devon’s-road, Bromley-by-Bow, producing a total income of £352 6s., and held on lease for an unexpired term of 63 years, at a total ground rent of £42 18s., for £2,575. At a sale by Messrs. Harman Bros., a semi-detached double-fronted residence, No. 37, Lordship-park, Stoke Newington, let at £65 per annum, and held on lease for an unexpired term of 74J years, at a ground rent of £10 10s., was sold for £1,045 ; a long-leasehold residence, No. 46, Fountayne-road, Stoke Newington, let at £48 a year, ground rent £9 10s., for £665, and a building site at the corner of Grenade-street and Salter-street, Limehouse, containing an are» of 4,088 square feet, copyhold, and let at £60 per annum, for £875. Mr. Horace B. Debenham (Messrs. Debenham, Tewson, Farmer and Bridgewater) officiated on behalf of his firm, and was successful in disposing of freehold ground rents, amounting to £25 10s., arising from houses in Middle-lane, Hornsey, reversion in 80 years, for £690 ; of the leasehold premises, No. 18, Aquinas-street, Stamford-streat, Blackfriars, covering a superficial area of about 5,500ft., 9£ years unexpired, ground rent £38 12s., let at £129 per annum, for £500, and of some leasehold ground rents in Tufnell-park-road, Holloway. The 63 years’ lease of a house in Milton-road, Albion-grove, Stoke Newington, let to a weekly tenant at rents amounting to £33 16s., was sold by Mr. Frank Jolly (Messrs. Frank Jolly and Co.) for £270. The Raleigh Gas Works, Essex, were disposed of by Mr. Alfred Richards for £1,270
Thursday.
There was a capital attsn-Leaseholds 3anoe 0f buyers when business Dulwich wasresumed after the“Derby."
I need hardly state that the great race and its result were well discussed in spare moments, and it was whispered that a well known and popular “ official,” had “ drawn the winner in a sweep.” Lucky man ! The supply of small properties today was all that could be desired, but there was no noticeable improvement, and again numerous investments had to be put back.
I always consider Thursday a statistical day, for the business done is not specially notable, but more of the “ facts and figures ” sort. When, after an hour and a half’s hard work Mr. Edward Stimson (Messrs. Stimson and Sons) thanked his large audience in the big “ A ” Room, and bade them adieu, there were several lots left unsold, the principal of these comprising fifteen long-leasehold houses in Gwynne-road, High - street, Battersea, and a freehold residence in Whitehall-park Highgate, which, let at £80 a year, was withdrawn at £1,400. In other instances the results were highly gratifying. Eighteen long-leasehold houses, Nos. 28 to 62 (even), Landell’s-road, East Dulwich, producing, in weekly rents, £418 per annum, and held for an unexpired term of 78 years, at a tota' ground rent of £81, were sold in three lots for a total of £3,250, whilst three freehold houses in Mandrake-road, Trinity-road, Upper Tooting, each let at 18s. weekly, realised £1,005 ; the 66 years’ lease of a double-fronted detached residence in Amhurst-park, Stamford-hill, offered with possession, ground rent £18, £1,650, and a freehold house in Sebert-road, Forest-gate, let at £30 per annum, £505. There were in the list several residences of a superior class situate in Highgate and Grouch-end. Two freehold double-fronted houses in Hornsey-lane, each let at £130 a year, were sold for £8,750, whilst a modern house in Whitehall-park, rented at £60, fetched £1,150. A large number of improved leasehold ground rents, secured on houses on the Gubitt Estate, Poplar, were in the hands of Mr. T. G. Wharton. A batch amounting to £101 4s., secured on dwelling houses in Stebbondale-road and Manchester-road, all held for a term of 95J years from September, 1855, and underleased for the whole term, had been disposed of by private contract for £1,880; whilst two rents amounting to £64 8s., secured on a public-house known as the Builder’s Arms, and 12 terrace houses in Stebbon-