|Chiswick's Barclays Bank Sells For £4m|
After receivers put High Road building up for auction
Chiswick's Barclays Bank has been sold at auction for £4m.
The 2,900-sq ft building (pictured below) at 149-153 Chiswick High Road with residential and office accommodation above was sold for Knight Frank LPA Receivers by auctioneers Acuitus.
Bank-occupied property investments proved popular at the auction held this week with another Barclays branch in Folkestone selling for £1.31m again for Knight Frank LPA Receivers.
Acuitus auctioneer, Richard Auterac, said, "It's been a tough week for commercial property auctions - as results from other sales have shown - but our auction has demonstrated that quality still sells and sells well."
He continued, "The market has changed markedly during the past three months with buyers and sellers still coming to terms with the new conditions. This sale was very much back to basics with ground rents attracting strong interest and also investments with solid covenants."
July 15, 2010