Knight Frank July Auction
Thursday 7th July 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 July 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 July Knight Frank auction which takes place on Thursday 7th July. We have another great section of premium properties that are ready for your bids this month and you can find out more about some of them below.
We’re looking forward to returning to the rostrum for our second auction of 2022 – as always, make sure to take a look through the legal pack for the property you’re interested in so that you can be certain of your completion timescales, financial requirements and any other responsibilities regarding the property.
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.
For any buyers looking for a residential project in the Bristol area, then lot 3, Mill Cottage in Olveston, could be the perfect purchase. In need of a scheme of modernisation, but benefitting from underfloor gas central heating and double glazing, the cottage is arranged over 2,220 sq. ft. With three bedrooms, three bathrooms and many other interesting features (such as a conservatory, hobby room and ornamental pond), this could make a lovely family home, with a guide price £495,000+ plus fees.
Lot 3
- Mill Cottage together with land on the east side, The Common, Olveston, Bristol, South Gloucestershire BS35 4DQ
- Guide price*
- £495,000+ (plus fees)
For anyone looking for a family home with a difference, lot 1, The Georgia Ide Hill Hall could be what you’re looking for. This is a spacious self-contained three bedroom house arranged on the ground and lower ground floor of an impressive Grade II listed mansion. The property benefits from private gardens, parking and garage space, as well as a well-fitted kitchen and an impressive sitting/dining room with a superb double height ceiling with 3/4 windows. At a guide price of £400,000+ plus fees, it is not one to be missed.
Lot 1
- The Georgian Ide Hill Hall, Phillippines Shaw, Ide Hill, Sevenoaks, Kent TN14 6EY
- Guide price*
- £400,000+ (plus fees)
A ready-to-go investment opportunity can be found in Newcastle-upon-Tyne with lot 8, 2401 Hadrians Tower. This is a luxury, three bedroomed apartment situated on the 24th floor of the building, offering magnificent panoramic views of the city of Newcastle. The apartment also features three bathrooms (two en-suite and one family bathroom), an open plan living and dining space, and a modern kitchen with fully integrated appliances. Residents also benefit from a 24-hour concierge, residents lounge, on-site men’s tailoring, travel and transport planning, Hadrians and Co coffee house and in-house beauty appointments. Currently let on an AST generating £54,000 per annum, this presents an opportunity to purchase a property with an immediate income, with a guide price of £1 million+ plus fees.
Lot 8
- 2401 Hadrians Tower, Rutherford Street, Newcastle upon Tyne, Tyne and Wear NE4 5BU
- Guide price*
- £995,000+ (plus fees)
Lot 5 is a spectacular property, currently being used as a local public house and restaurant, featuring 10 letting rooms. Having recently undergone much investment and refurbishment, it will require little major capital investment for some time. Set in the spectacular countryside in Powys, Mid Wales in the centre of the town of Rhayader, this is a great opportunity to acquire a lucrative commercial property at a guide price of £450,000+ plus fees.
Lot 5
- The Elan Hotel, West Street, Rhayader, Powys LD6 5AF
- Guide price*
- £450,000+ (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 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 5
- The Elan Hotel, West Street, Rhayader, Powys LD6 5AF
- Guide price*
- £450,000+ (plus fees)
Lot 7
- 1, Old Dairy Square, London, Greater London N21 1GR
- Guide price*
- £550,000+ (plus fees)
Lot 9
- 7, New Crane Place, London, Greater London E1W 3TS
- Guide price*
- £1,200,000+ (plus fees)
Lot 13
- 2 Pilgrims Close, Northolt, Greater London UB5 4QB
- Guide price*
- £170,000+ (plus fees)
Lot 6
- 12 Artisan Quarter, Wellington Road, London, Greater London NW10 5GJ
- Guide price*
- £1,000,000+ (plus fees)
Lot 8
- 2401 Hadrians Tower, Rutherford Street, Newcastle upon Tyne, Tyne and Wear NE4 5BU
- Guide price*
- £995,000+ (plus fees)
Lot 10
- Flat 4, 2A York Way, London, Greater London N1 9AA
- Guide price*
- £480,000+ (plus fees)
Lot 12
- Unit 7, Exhibition House, Addison Bridge Place, London, Greater London W14 8XP
- Guide price*
- £800,000+ (plus fees)
Lot 15
- Development Site at, Woodland Drive, Smethwick, West Midlands B66 1JF
- Guide price*
- £100,000+ (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 on each property using the link below.