Auction reveals new King’s Road (From Bucks Free Press)

Auction reveals new King’s Road

2:29pm Friday 16th December 2005 in

• Skip social links
• Print
• Email
•  

Muswell Hill and Crouch End shops are as good an investment as central London thoroughfares like King's Road or Upper Street, according to auctioneers who sold more than £2 million-worth of property in Muswell Hill this week.

Soho-based Allsop auctioned off the Cancer Research shop in Muswell Hill Broadway and Thresher wine store in Alexandra Park Road, Muswell Hill, for £1.35m and £740,000 respectively at the weekend well above the reserve price.

"It is as high an investment value as any part of central London bar Oxford Street or Regent Street. It is a very popular area for investors," said George Walker, an auctioneer at Allsop. "Some property prices are massively high. There is a tremendous demand. The auction is a major stamp of approval."

The Thresher property fetched £60,000 more than expected at the auction, while the Cancer Research shop went for £300,000 more than predicted.

Mr Walker said that properties in Crouch End and Muswell Hill were some of the hottest in London, but despite Hornsey being named recently as one of the capital's best areas for real estate investment, the auctioneers have yet to put any sites in the area under the hammer.