The freehold of the O2 Academy is one of 10 being auctioned by Newcastle City Council this monday, with a guide price of £625,000 and is expected to fetch more than £2m.
Run by Academy Music Group, the building has played host to scores of acts over the last 10 years, including the Prodigy, Paloma Faith and Rita Ora.
The venue’s operations will not be changed but its freehold is set to go under the hammer at a London auction, with commercial property specialists Lambert Smith Hampton acting as agents.
The firm said it represents a freehold ground rent investment, with six years left on a 99
UK house prices have increased by an average of £11,500 over the12 months to May 2015 with seven cities in the South of England significantly outperforming this level, the latest index from Hometrack shows.
The average house in a city now costs £189,400 with London more than double this figure at £425,700, with month on month basis prices increased by 0.8% in May which is 3.8% above the peak of the market in 2007.
Oxford has recorded the highest rise in the last 12 months with growth of £41,700, nearly quadruple the UK average of £11,500, followed by London at £38,900, Cambridge at £23,900
Auction House London is holding a private auction with four lots on Monday 13 July ahead of its main auction mirroring the Australian auction system where properties are sold on site or nearby as they come onto the market.
Auction House London director, Jamie Royston said, “In this case this was the best option for the owner who is selling the four commercial and residential properties in Queensbridge Road, Hackney. This method is similar to the Australian idea and with the increasing popularity of selling by auction we are able to be more flexible on how and when we auction property.”
George Osborne will unveil plans in the Budget to end inheritance tax on properties worth up to £1m, at last fulfilling a Conservative pledge first made seven years ago.
He is expected to tell MPs on Wednesday that the threshold at which the tax is levied will rise for couples from £650,000 after April 2017.
The broad proposals were in the Tory manifesto but have since been tweaked to ensure that pensioners will be able to downsize their home without worrying about their offspring missing out on the tax break.
The allowance will be transferable on the death of one spouse and added to the
A former methodist church in North Lincolnshire is under the hammer later this month.
The guide price is £80,000 - £90,000.
The chapel in Vicarage Lane, Cadney, near Brigg, DN20 9HR, has full planning permission for change of use into residential accommodation and for a detached garage to be built alongside.
Over a dozen local properties including cut-price four bedroom houses with remarkable views of Lough Swilly, the Atlantic and the River Foyle will be auctioned off in Dublin on Wednesday, July 8.
The properties - including lots from St Johnston, Manorcunningham, Burnfoot, Carndonagh, Culdaff, Castlefin and Letterkenny - will go under the hammer in the Allsop auction in the RDS.
All have asking prices of less than 100,000 euros.
For example, a four bedroom detached house located at Tooban Upper, Burnfoot, overlooking Inch Island and the Swilly is being offered for a minimum of 50,000 euros
A South Wales valleys terraced house which was among the cheapest in Britain when it was put up for sale with a guide price of £7,000 has sold at auction for £27,000.
Located at 36 Oak Street in Clydach Vale, Tonypandy, the forlorn-looking, three bed terrace has boarded up front windows, a wrecked downstairs bathroom, ripped up bedroom floorboards and an overgrown garden.
It was snapped up by a Leeds-based motor mechanic at Paul Fosh Auctions last week.
Sean Roper, of Newport-based Paul Fosh Auctions, said: “There was loads of interest generated prior to the auction with lots of people coming
Record numbers attended Romans’ first summer auction of the year, at the Green Park Conference Centre in Reading. The packed sales room and competitive bidding resulted in 92% of the lots selling at or above their guide prices.
“Competition between investors and owner occupiers was very much in evidence today, which drove prices up to some extremely good levels” comments Simon Clayton, Romans’ Auctions Director.
“There was an enormous appetite for properties requiring renovation or with investment potential, and it was a case of simply not having enough stock to supply the demand. This is
A patch of pavement in Islington, north London has sold at auction for a hefty £125,000, from a reserve price of just £4,000.
The 560 square foot patch, in a busy central location by Camden Passage, used to contain a building and has been in private ownership since 1968.
Last week, the lot sold to another private buyer - though it is unclear how the investor will use the patch, which sites near the market stalls, cafes and shops of Camden Passage.
Chris Coleman-Smith, head of Savills auctions, said: "This unusual patch of land offered auction bidders the opportunity to invest in Islington for
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