Oil well among July auction lots

25th June 2019

The catalogue for ourJuly auction features 62 lots with guide prices ranging from £40,000 to £2.1m. The sale will include a variety of properties spanning retail, office, industrial, ground rent and leisure assets which represent total rental income of around £4m.

The sale includes Larkwhistle Oil Well in Hampshire which comprises nine active wells and is let to IGas Energy Development Limited until January 2039 at current annual rent of £92,500. The 7.45 acre property is four miles north of Winchester and is being offered with a guide price of £1m.

IGas Energy is a leading British oil and gas explorer and developer, producing circa 2,200 barrels of oil equivalent per day from over 100 sites across the country.

Other lots in the auction will include:

  • Cambridge, Green Street: A rare city centre freehold shop investment let until 2029 (no breaks) with self-contained upper floors. Producing £68,000pax. Guide price: £900,000+
  • Oakham, Leicestershire: Well-located trade counter investment. Let to Travis Perkins (properties) Limited until 2031 (no breaks). Producing £51,217pax with RPI uplifts. Large site.Guide price: £875-900,000
  • Scotch Corner, North Yorkshire: Freehold Hotel Investment. Adjacent to A1 (M). Let to Travelodge Hotels Limited until 2039 (no breaks) producing £153,406pax with RPI uplifts. Guide price: £1.8m-1.9m
  • Wolverhampton, West Midlands: Freehold Leisure Investment. Let to Buzz Group (formerly Gala Leisure) until 2039 (no breaks). Producing £149,818pax with Annual RPI uplifts. Guide price: £1.75m
  • Luton, North Luton Industrial Estate: Freehold index linked industrial investment. Well located close to J11A of M1 motorway. Let until 2025 producing £126,494pax (£4.35psf) with annual RPI uplifts. Guide price: £1.7m
  • Newcastle upon Tyne: Freehold long let index linked bar/restaurant investment. Let until 2039 (no breaks) with guarantee from Stonegate Pub Company producing £130,925pax with annual RPI uplifts. Guide price: £2m

The auction will take place on 11th July  at 1.30pm at The Montcalm Hotel, London W1H 7TN.