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January to April 2014Interim auction market review

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Sovereign House, 361 King Street, Hammersmith, London W6 9NA www.barnardmarcusauctions.co.ukTel: 020 8741 9990 Fax: 020 8741 2188

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IntroductionThe initial months of this year have seen buoyant market conditions, withall key indicators showing gains on 2013. Here at Barnard Marcus wehave been able to fully capitalise upon this confidence, and against thebackground of 2013 which was strong year of growth for the business,our key business indicators are already well ahead of 2013 results.

In February, we relocated to our new offices at Sovereign House, providingincreased improved facilities and space to accommodate our growingteam. Our March Auction saw the best result ever, raising over £38m froma catalogue offering 260 lots.

During the first four months of the year we have already offered 689 lotsup 23% on the equivalent period last year, which is a measure to beproud of when compared to the national growth of just 7.2%, and underpins our position as the top residential London Auctioneer measuredby lots offered. Sales are up by 24% and capital raised up by 33%.

Our May auction will see another 240 lots on offer, which shows a 30%increase in lots offered by us compared to the same period in 2013, andwith a total of 10 auctions planned for the year. We look forward toworking with both old and many new clients offering you a top qualityservice and sales result.

Christopher J. O. GlennDivisional Managing Director, Barnard Marcus Auctions

Competitive bidding at our March auctionwhere 86% of stock sold raising over £38m

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economic update

2014 is exceeding many expectations on the economic front, with GDP growth forecasts of 2.9% for 2014, and according to the IMF, the UK is set to be the best performinglarge economy this year.

Unemployment is down 63,000 in the three months to January 2014 and now edging close to 7% faster than originally predicted by the Bank of England last summer. Thiscoupled with inflation figures showing rate of price growth (as measured by the CPI) falling to 1.6% in March, from 1.7% in February, is the third consecutive month thatinflation has been below the Bank of England’s 2% target. Mark Carney revised his forward guidance in linking interest rates to unemployment in February and as suchsignalled that interest rates may remain at their historic low levels for longer than earlier predicted.

The Council of Mortgage Lenders (CML) published figures in April showing gross mortgage lending up by a staggering 37% year on year with £15.4bn lent in March aloneup from £11.6bn in March 2013. Buy to let lending continues to recover strongly, with yields on assured shorthold Tenancies at our auctions standing at 7.59% year to date

With the stock market remaining fairly static and continued house price inflation currently running at 8.7% (source Halifax House Price Index March 2014) spurred on byThe “Help to Buy” scheme, property may well prove to one of the best investment choices of the year.

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results

Market share by Volume of Lots offered By London Residential Auctioneers

2014 year to date Results

Barnard Marcus

Allsop Residential

Savills

27.4

20.3

16.9

4.3

Barnard Marcusperformance

Jan to April 2013

Barnard Marcusperformance

Jan to April 2014Variance

Other LondonResidentialauctioneers (excluding

Barnard Marcus)

Number of lots offered 562 689 +23% +9%

Number of lots sold 450 558 +24% +5%

% sold 80% 81% +1% -3%

Market Share 24.7% 27.4% +2.7% -

Amount raised £67m £89m +33% +18%

“Barnard MarcusMarket leaders with 27.4% market share”

6.2 5.

7 5.6

2.2

1.2 1.

2 1.2

1.6

Data source: The Essential Information Group www.eigroup.com

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Andrew Scott Robertson

Auction House London

Harman Healy

McHugh & Co

Strettons

Countrywide

Network Auctions

Athawes

Brendons


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national auctioneers

Barnard Marcus are the leading brand within Sequence Auctions, and again this year will stage 10 National Auctions in central London offering a broad mix of propertyfor investment and occupation

2014 Regional Analysis

Region Lots offered Lots sold Success rate

Greater London 163 141 87%

SE Home Counties 175 145 83%

East Midlands 27 22 81%

West Midlands 33 27 82%

Yorkshire & The Humber 59 48 81%

South West 25 13 52%

Wales 21 14 67%

East 4 4 100%

North East 33 22 67%

North West 137 112 82%

North 2 2 100%

Scotland 8 6 75%

Ireland 2 2 100%

TOTAL 689 558 81%

2014 Investment yields

Lots offered Lots sold Yield

Assured Tenancies 221 190 7.59%

Ground Rents 10 9 2.29%

TOTAL 231 199

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growing client base and choice of propertyBarnard Marcus offers one of the widest spectra of property available for sale under one roof. Many existing and new clients are experiencing the added benefits we offer asa national auctioneer with a chain of agency offices offering truly national strength with local knowledge. Just a few examples of clients we have acted for this year include:

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auction highlights 2014Our growing client base continue to experience way beyond their expectations. Indeed these results could be viewed as exceptional. We however view them as proof ofour desire to always outperform and deliver service and results way beyond expectation.

SOLD INFEBRUARY AUCTIONPortobello Road W10

LOT 54

Guide £850,000Sold for £1.48M

SOLD INFEBRUARY AUCTIONhouse arranged as 2 flats

LOT 5

Guide £675,000Sold for £905,000

SOLD INFEBRUARY AUCTIONFormer Care Home

LOT 61

Guide £450,000Sold for £650,000

SOLD INFEBRUARY AUCTIONBuilding with potential

LOT 60

Guide £440,000Sold for £815,000

SOLD INMARCH AUCTIONLH four bed flat in SW4

LOT44

Guide £325,000Sold for £485,000

SOLD INMARCH AUCTIONLH four bed flat in SW4

LOT51

Guide £365,000Sold for £570,000

SOLD INMARCH AUCTIONLand with PP in Kent

LOT 90

Guide £275,000Sold for £405,000

SOLD INMARCH AUCTIONFH Bungalow in TW7

LOT 4

Guide £50,000Sold for £205,000

SOLD INAPRIL AUCTIONLH Flat in London W8

LOT 2

Guide £170,000Sold for £305,000

SOLD INAPRIL AUCTIONFH Hotel in London E7

LOT 9

Guide £1.2mSold for £2.11m

SOLD INAPRIL AUCTIONFH House in London SE2

LOT 20

Guide £120,000Sold for £202,000

SOLD INAPRIL AUCTIONFreehold House in Suffolk

LOT 228

Guide £185,000Sold for £295,000

Sold for private clients

Sold for Receivers

Sold for Receivers

Sold on behalf of

Mortgagees Sold for

Receivers

Sold for private clients

Sold on behalf of

Mortgagees

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new for 2014On 6th February we moved into our new prestigiousoffices at Sovereign House. The building is situatedon the corner of King Street and Black Lion LaneHammersmith W6, which provides us with HighStreet premises with large window display areas,meeting rooms and generally improved workingconditions for our rapidly expanding team.

We look forward to welcoming clients new and oldto visiting us and enjoying the environment in whichwe work.

Christopher J. O. GlennDivisional Managing Director, Barnard Marcus Auctions

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what we can do for youIf you are looking to sell in 2014, and have not yet considered auction as a potential route to sale, why not call a member of our team for a free no obligation discussionand appraisal.

Auctions offer a valuable alternative route to sale for those wishing to maximise price within a defined timescale. Typical properties suitable for sale by auction include, but are not limited to:

• Vacant property with potential for improvement or development• LPA Receivership cases• Repossessions• Properties with legal or condition issues• Regulated tenancy investments• Assured tenancy investments• Ground rent investments• Sites with or without planning permission• Probate cases• Commercial Property (vacant or for investment)• Property portfolios• High demand locations where demand outstrips supply

To find out what we can do for you call 020 8741 9990 now!

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meet some of the team

Divisional Managing DirectorChristopher J. O. Glenn

[email protected]

Sales Manager/AuctioneerBrian Grante

[email protected]

Operations ManagerJames Paterson

[email protected]

NegotiatorMax Ferrari

[email protected]

NegotiatorRichard Vango

[email protected]

PA to Divisional Managing DirectorLucia Pincott

[email protected]

Corporate Sales ManagerMeghan Mamo

[email protected]

NegotiatorNathan Greaves

[email protected]

Client Relationship ManagerMatthew Rosenz

[email protected]

Contracts ManagerSharon Chandler

[email protected]

Accounts ManagerKimberley Heath

[email protected]

AdministrationJotnavine Gill

[email protected]

AdministrationMilana Abromikas

[email protected]

Corporate Sales AdministratorBillie-Jo Stanley

[email protected]

Junior NegotiatorThomas Mason

[email protected]

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our auction dates for 2014Auction date

Wednesday 5th February

Tuesday 11th March

Monday 14th April

Monday 19th May

Tuesday 24th June

Tuesday 29th July

Tuesday 9th September

Tuesday 14th Octoberthis auction only - venue changes to Hotel Russell

Monday 17th November

Tuesday 16th December

Closing date for instructions

10th January

14th February

21st March

25th April

30th May

4th July

15th August

19th September

24th October

21st November

Contact our auctions team on:

Sovereign House, 361 King Street, Hammersmith, London W6 9NAauctions.hammersmith@sequencehome.co.ukwww.barnardmarcusauctions.co.ukFollow us on @barnardmarcusau

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