Knight Frank February Auction
Thursday 17th February 2022 at 11:30am
Addendum
You can find the addendum for this month’s auction by taking a look at the link below.
The addendum is where you can find any last minute updates or changes to the lots on offer – it will be updated up until auction day, so if you’re bidding on Wednesday, make sure to regularly check back to stay in the know.
Introducing the February Knight Frank Catalogue
Andrew Parker
Managing Director & Auctioneer at
SDL Property Auctions
Richard Watson
Auctions at Knight Frank
It is our pleasure to present to you the catalogue for the February Knight Frank auction which takes place on Thursday 17th February. We have another fantastic selection of premium properties that are ready for your bids in our first auction of 2022.
After a successful series of auctions last year, it’s exciting to be returning to the rostrum once again in 2022, ready and raring to secure fantastic results by auction for sellers across the UK. If this is your first or fiftieth auction, make sure you take a look through the legal pack for the property you’re interested in so that you can be certain of your completion timescales and financial requirements.
As always, all the lots in our auction are open to bidding online, on the phone and by proxy, and you can register to bid by completing our simple online form here. We have a fantastic variety of lots on offer, meaning there is sure to be something for everyone.
Lot 5 is Unit 7 within Exhibition House, a stone’s throw away from the Olympia Exhibition Centre in Earl’s Court. Exhibition House itself is a purpose-built office building set out over four floors, including 24 separate, self-contained office suites within 3 connected buildings. Each building benefits from its own 8-person passenger lift, which services all floors, as well as excellent natural light, a dedicated kitchenette, on-site caretaker, and private WCs. For any businesses looking to gain a footing in the capital or expand on existing space, this is not an opportunity to be missed, at a guide price of £850,000+ (plus fees).
Lot 6
- Unit 7, Exhibition House, Addison Bridge Place, London, Greater London W14 8XP
- Guide price*
- £800,000+ (plus fees)
Starting in Islington in Central London, is lot 2, 189 Upper Street. This is a beautifully set out, mixed use property, with a restaurant space on the lower floors, and a two-bedroom flat on the second floor. The restaurant has been finished to a high standard, with enough room for circa 70 covers, as well as bar space. Just a stone’s throw away from Highbury and Islington station, this is an unbeatable location currently producing £59,400pa which lends itself to its guide price of £1,600,000+ plus fees.
Lot 2
- 189 Upper Street, Islington, London, Greater London N1 1RQ
- Guide price*
- £1,300,000+ (plus fees)
In the Limehouse area of East London, we find lot 4, 71 Island Row. This is a bright and spacious freehold home, arranged over three floors and benefitting from its own driveaway and garage. The ground floor has been set out in a way that would allow for a guest, family member or tenant to use the space independently from the rest of the house. The first floor features a living room and fully equipped kitchen, with the top floor featuring the master bedroom (and ensuite bathroom), as well as the third bedroom and family bathroom. There is also plenty of built-in storage and loft space. With great access to central London, this ready to go family home is offered at a guide price of £650,000+ (plus fees).
A little more centrally in Canary Wharf, we find lot 6, Apartment 3409 in Charrington Tower. This two-bedroom, two-bathroom apartment is located on the 34th floor of the development, and is set out over 600 sq. ft. Benefitting from a private balcony, residents gym, swimming pool and a 24 hour concierge, this would be a perfect base for anyone looking for a home close to the financial hub of London, and with a guide price of £550,000+ plus fees, is not to be missed.
Lot 7
- Apartment 3409, Charrington Tower, 11 Biscayne Avenue, London, Greater London E14 9BQ
- Guide price*
- £600,000+ (plus fees)
Moving out of the capital, is lot 1, a penthouse within Loxwood on 20 Oatlands Chase in Weybridge. Measuring 1,606 sq. ft. the apartment benefits from three bedrooms, two bathrooms and a large open plan kitchen and lounge area. There are also three underground parking spaces attached to the property, as well as lift access from the parking level, a private rooftop terrace with additional balcony and well maintained and enclosed communal gardens. With a guide price of £475,000+ plus fees, this makes an incredible investment opportunity.
Lot 1
- Flat 10, Loxwood, 20 Oatlands Chase, Weybridge, Surrey KT13 9SA
- Guide price*
- £475,000+ (plus fees)
All prospective buyers are required to register their intention to bid prior to the auction day using the simple online form here. Simply select whether you’d like to place a bid online, on the phone or by proxy and we’ll be in touch to process your request.
If you’re thinking of selling a property by auction or want to find out more about any of the lots for sale in this catalogue, call the team now on 0207 861 5520 or email us at auctions@knightfrank.com.
Remember to tune in!
Our Knight Frank Auction is currently broadcast online, live from our auction studio.
It’s really easy to tune in and watch on the day. The auction begins at 11:30am and will run throughout the day, with Andrew Parker taking to the rostrum. To tune in on the day, simply visit our website where you’ll be able to watch the auction unfold from our home page, or follow the link below!
Properties in this month's auction
You can take a look at the fantastic selection of premium properties featuring in this month’s auction below
Lot 7
- Apartment 3409, Charrington Tower, 11 Biscayne Avenue, London, Greater London E14 9BQ
- Guide price*
- £600,000+ (plus fees)
Frequently asked questions
Over the past few months we have naturally received some questions from our bidders about how the buying process works. Largely we are operating as we always have been, we’re simply not able to see you in the auction room when you bid. We’ve put together these frequently asked questions to help guide you through your auction purchase.
A reserve price is the price stated as the lowest acceptable figure by the seller. This figure is confidential between the seller and auctioneer.
No, not always. The guide is an indication given by the auctioneer. Where the guide price is a bracket figure, the reserve cannot exceed the top end of the bracket price. If the guide price is a single figure, then the reserve can be up to 10% in excess of this.
After the auction has ended one of our team will contact you to advise you of the result.
Yes, and these vary depending on the method of sale associated with the property and the country in which you are purchasing. These are listed below – please note the reservation fee does not contribute towards the purchase price. Any further additional costs, which are payable in addition to the purchase price will be included within the Special Conditions that are attached to the Contract. Therefore all prospective purchasers must inspect the legal packs thoroughly. We also strongly advise prospective purchasers to request a legal representative reviews the pack for every lot that you may wish to bid on, so that you are fully aware of any additional costs, if applicable.
England and Wales
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Reservation Fee is subject to a minimum of £6,000.
Scotland
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000.
There are a number of options when selling by auction which can include paying no fees at all and having the buyer an additional fee instead.This is often an attractive option when you are selling due to a bereavement or a divorce and you have limited cash prior to the auction to fund the sale. Alternatively as a seller you can pay an initial fee and commission price for the sale of the property, meaning the buyer doesn’t have to pay anything extra, maximising the final sale price of the property
Regardless of which auction route is selected, there are solicitor fees to prepare the legal pack for your property, which typically costs around £350 to £500. After your home is sold, you will also need to instruct a solicitor for the conveyancing of the property, which can cost anywhere from £450 to £750.
Yes, if a reserve price is not met during the bidding process, then the lot will not sell. We continue to market our unsold properties after the auction and if a post-auction sale is agreed it will be carried out under auction conditions.
Bidding registration
Bidding registration closes at midday the day before the auction.
Registering to bid in one of our Knight Frank auction is quick, easy and painless. By completing our online form, you can register for bidding online, on the phone and by proxy, meaning you can bid from the comfort of your own home. There’s no need to wait for the legal pack to be completed before registering, there’s no obligation to bid on the day and there’s no money taken prior to bidding.
Our buyers terms
If you’re planning on bidding at auction, it’s really important that you do your due diligence prior to the auction – part of which is reading our buyers terms which you can find below. Make sure to read them in full to ensure you’re prepared to bid.
Guide to additional fees
Important notice relating to fees, costs and charges payable by the buyer in addition to the purchase price.
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs or reservation fees. All prospective buyers are advised to inspect the legal documents including the contract and special conditions of sale and seek their own independent legal advice as to the full cost of purchasing a specific property.
Legal Packs
We recommend reading the legal pack prior to the auction, to make sure you’re aware of all the information before bidding.
It’s really important that you take a thorough look through the legal pack for the property you’re interested in buying before placing a bid, as they lots of important information regarding your purchase. We recommend going through the pack with your solicitor prior to the auction. You can view the legal packs for all lots in this month’s auction using the link below.