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Hi,

PLEASE NOTE THAT THIS INFORMATION APPEARS IN THE NEWS SECTION AT THE MEMBERS' AREA AT GOVERNMENT AUCTIONS AS SOON AS WE RECEIVE IT. FULL DETAILS ABOUT EACH AUCTIONEEER CAN BE FOUND AT THE SITE.

The GAUK FREE Newsletter is our regular FREE bulletin designed to keep you fully updated with news, the latest sales, auction results and general pieces of interesting auction information. This is a supplement to information contained in the main GAUK database and is an additional service.

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Public Sales

More information and full contact details for all the following sales are available in the database - just type in the name of the auctioneer of your choice into the search facility. If you are a member of GAUK please note that the following information is available in the news section as soon as we get it.

Fleet Auction Group (Trade)
FLEET SALE
THURSDAY 5TH AUGUST 2004
11.00am

Team Auctions, 60 Bentinck Road, Newcastle Upon Tyne. Tel: 0191 226 0670. Sales of commercial catering equipment at 11am. Wednesday 4th August at the Oaklands Country House Hotel, Millington Lane, Gorstage, Weaverham, Cheshire. Monday 9th August at the Hilton Dundee, Earl Grey Place, Dundee. Tuesday 10th August at the Balgeddie House Hotel, Glenrothes, Fife. Wednesday 11th August at the Albert Hall, Dumbarton Road, Stirling. Thursday 12th August at Springwood Hall, Border Union Showground, Kelso.

Lithgow Sons & Partners, The Auction Houses, Station Road, Middlesborough. Tel: 01642 710158. Wednesday 4th August at 11am; a sale of new shop stock and home furnishings. Taking place at The Auction Houses.

Frank Hill & Son, 18 Market Place, Patrington, Hull, East Riding Of Yorkshire HU12 0RB Tel: 01964 630 531. Saturday 7th August; sale of household furniture and effects, tools and equipment, riding tack etc. Taking place at The Poplars, The Green, Old Ellerby, Hull.

FPD Savills, 4 St. Peter's Gate, Nottingham. Tel: 0115 934 8100. Tuesday 10th August; a sale of motor vehicles. Taking place at Tors Coaches, Colwich Ind. Est., Colwich. Tuesday 17th August; a sale of vehicle workshop equipment, sheet metal and fabrication equipment metallurgy equipment etc. Taking place at Sandwell College, Sandwell Campus, Woden Road South, Wednesbury.

Smith Hodgkinson & McGinty, Knowsley Way, The Auction Centre, Unit B, Haslingden, Rossendale, Lancs. Tel: 0161 233 2900. Wednesday 11th August from 9am to 4pm; a tender sale of copper cylinder, polishing and engraving plant. Taking place at Technology Wigan Ltd, Redgate Road, South Lancs Ind. Est., Wigan.


Property News

Hi,

Spanish Villas Available At 30% Below Market Value, New Ground-Floor Syndicate Opportunity For Only 5,000, Glasgow Off-Plan Development With 15% Discount

Its Peter Parfait, with further selected, well filtered, investigated and recommended property opportunities and services for you. First of all, heres news from Jonty Crossick of Ready 2 Rent:
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Spanish Villas Available At 30% Below Market Value - Double Your Money Immediately
I have recently made several trips to Spain, exploring the entire Andalusia region. The deal that I found in Turre, near the famous village of Mojacar in the province of Almeria, was so good that I parted with a substantial amount of euros to secure. Turre is set in an area that still tastes of authentic Spain and is tipped for strong growth as land prices soar. This deal has everything. Best of all, I can offer you Spanish villas at 30% below their market value. If you put down a 30% deposit on the property then, given instant equity of 30%, you have, on paper, more than doubled your money in an instant. Deals dont come any better.

The great aspect of this offer is that the villas are affordable to most of my investors: 160,000 (108,000) makes it affordable for more people. At current market values these villas are worth about 230,000, so your instant equity is 70,000, or just over 47,000. In simple terms, youre putting down 32,400 to make instant equity of 47,000. Before transaction costs, thats turning 32,400 into 79,400, which is more than doubling (2.45 times, in fact!) your money.

Whats more, you have this superb upside while your downside risk is minimal, because you have 30% in the deal. The market would have to fall by 30% for you to start losing. I particularly like deals where the downside is small and the upside is superb.

I like to separate fact from fiction. Speculation is like gambling, whereas investing is more considered and prudent. I believe that investing in Spains Andalusia region represents an intelligent move. There are a number of contributing factors to explain why:

Property prices in Spain have risen by 284% between 1987 and 2002.
Property prices have increased by nearly 100% in the last decade.
The property market in Spain rose by 17.3% last year.
Spain is now the worlds top tourist destination, with over 50 million visitors a year.
Last year 190,000 newly built holiday homes were sold in Spain.
Half of these holiday homes were sold to foreigners who spent a record 7.2 billion.

What I love about the Almeria region is that it still offers the holiday-maker, the part-time resident or the retiree a place in real Spain. Compared to the Costa del Sol or the Costa Blanca, this region offers its visitors an authenticity that over-development elsewhere has destroyed forever. As people become more discerning, I think this will prove increasingly attractive.

You cannot do better than invest in a new hotspot, in a country with a strong track record and at prices which are 70,000 below the market value. As such, we dont expect supply to last for long, so call our hotline on 01273 609 267 to reserve your 30% under-market-value property now. As usual, Ready 2 Rent will offer a full team of letting agents, lawyers, accountants and mortgage brokers to make your deal as hassle-free as possible.
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New Ground-Floor Syndicate Opportunity For Only 5,000 - 4:you Property Partners plc

4:you, the new company formed by Chris Howard, Bill Ryan, Nick Rampley-Sturgeon, Andrew Reeves and a number of other colleagues experienced in property investment and development, has extended the period during which shares in their new venture will be available to the public. They are being offered for subscription at 10 per share, with a minimum investment of just 5,000.

Bill Ryan, 4:yous Investor Relations Director, says: The response has been really quite overwhelming and were delighted that we seem to have got it right. Were taking calls from investors for much of every working day, from high net worth individuals, for whom an investment of 100,000 is just to test the water, to people for whom the minimum investment of 5,000 is pretty much all the capital theyve got.

It does appear that were offering exactly what a large number of investors want: an opportunity to have a stake in a substantial European-wide property portfolio on a hands-off basis. Many people have told us that they want to take advantage of the new emerging eastern European markets, but they feel they just dont have the time or the experience to invest there personally. So theyre delighted that were offering a means for them not to miss the boat and get in on the anticipated growth at the ground-floor level.

Some investors have told us that they want to be a part of what were doing, but that they need a little more time to free up their funds, so were pleased to extend the subscription period accordingly. We havent yet been able to return all the calls and e-mails weve been receiving, so taking this all together weve decided to extend the offer period.

Meanwhile, our minimum subscription has been achieved quite a while back and were confident that well raise several million pounds before we finally close the offer. The date at which we will close it hasnt yet been decided by the 4:you board.

On our own investment front, because were seeking to add to our international portfolio all the time, were now working to establish links in Croatia to add to our eastern European portfolio. Beyond Europe, were currently researching opportunities in South Africa, Florida and the Bahamas, although we havent made any commitments there yet.

For investors who may have missed our last two months reports, 4:yous strategic intention is to invest in property in a number of countries in mainland Europe, as well as the UK, thereby creating an attractive ready-made opportunity for the private investor as a shareholder in the company. The company is currently extending its vision to look further afield as well, as evidenced by Bill Ryans remarks above.

4:you plans to increase their underlying asset value by an amount in excess of 15% per year. This will depend upon the performance of the property investments 4:you makes, but the directors are confident of success and believe this is a realistic target.

Speaking on the topic of eastern Europe at the recent Property Investor News Conference at the Savoy Hotel, Chris Howard, the companys MD and an experienced executive (previously with Unilever, KPMG, the British Tourist Authority, PriceWaterhouseCoopers and the Cabinet Office) said: We could increase our underlying asset value by anything between 15% and 50% per year in the next few years. Frankly, Id be more surprised if it was less than 25% than if it were more.

By investing in 4:you shares, investors will effectively buy into a property portfolio of carefully selected opportunities across a number of international property markets: France, Spain, Italy, the Czech Republic, Hungary, Bulgaria, Poland, the Baltic States, Cyprus and the UK. Apart from one off-plan investment in Leeds, the company aims to focus only on high-margin development projects here at home. 4:you will seek the best returns, but will spread the risk more broadly than if an investor were to buy individual properties on his or her own account in any one property market.

Further Research: For more details and a prospectus, please contact Bill Ryan on 0800 040 7904, or e-mail invest@4:you.uk.com. Alternatively, their website, which provides more information about the company and their investment strategy, can be found at 4you.uk.com.
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Glasgow Off-Plan Development With 15% Discount

Further to The Property Associations recent announcement and the success we have enjoyed with this development, we now have complete exclusivity on the Graham's Yard complex in Glasgow. We are therefore pleased to offer further availability in the most popular blocks and a final opportunity to acquire property in one of the hottest regeneration areas in the UK.

This is a really low-money-down deal, requiring just 8,000 in up-front funds, with nothing further to pay until the end of next year. Once again, this property represents truly affordable housing for buy-to-sell investment. With fully assignable contracts, you can sell for profit before you complete. For buy-to-let, rental coverage should perform well against mortgage borrowing.

Property Overview

The development of 248 two bedroom and 5 three bedroom penthouse apartments is on the edge of Glasgow city centre. These have been allocated to The Property Association at a discount of 15% off the current market value. The market values have been endorsed by two of the largest firms of RICS surveyors in Scotland. The contracts are fully assignable prior to completion and for those wishing to let their property, rental coverage of borrowing should be easily achievable.

Glasgow is currently undergoing a compete transformation as a residential destination. This residential regeneration began in the housing boom of the late 1980's with the creation of an area within the city centre called the Merchant City. This saw the first development of new homes in Glasgow aimed at the young executive market and by the early to mid 1990's the Merchant City had become established as the core residential district of Glasgow. In 1999 Glasgow was awarded the title of year of architecture and design and from this point to the present day there has been an explosion in residential development in the city centre.

Most of these new developments have been in the region of 200 - 250 per sq ft with high spec fit outs and achieving prices in the region of 200,000 and upwards. The average discounted price for this property is a stunning 178 per square foot. The prices include parking and in addition to a high specification, all units have fitted wardrobes and an en-suit master bedroom.

Glasgow is also considered to be at the fore-front of modern culture within the UK with come of the countries leading style bars, night clubs and restaurants located within the city. Additionally it is considered to be, by most in the field, to the premier retail destination in the UK out-with London. Despite all this the core city centre area of Glasgow is not more than two miles square and Grahams Yard lies on the eastern edge of this district.

Grahams Yard lies immediately adjacent on the east of the Merchant City, next to the afore mentioned Monument and between the Merchant City and other successful developments such as Dennistoun Village and Silvergrove. Grahams Yard therefore offers a location which is comfortably within walking commuting distance of the core retail and office districts of Glasgow at a level which is more in line with affordability level based on the average salary income in west central Scotland.

Property Information In Brief

Location: Just East of Glasgow City Centre
Type Of Property: New build, 2-bed apartments and 3-bed penthouses. High spec with en-suites and parking included.
Type Of Transaction: To be acquired off-plan. Exclusive TPA opportunity.
Build Time: Up to 15 months, with estimated completion in Q4 2005. Fully assignable during build.
Size Of Building: Eight separate blocks, the highest of which will be seven floors. 248 units in total.
Units Available: 111 two-beds en-suite apartments and 1 three-bed penthouse.
Negotiated Discount: 15%, resulting in average prices of just 178 per square foot.
Prices: Net prices of 112,000 to 155,000 for a two bed en-suite apartment with parking.
Buy-To-Sell: Contracts are fully assignable prior to completion. You can sell for profit before you complete.
Buy-To-Let: Average rental is currently 750 to 850 pcm for a 2-bed en-suite apartment in Glasgow.
Required Payments: 1,000 Reservation Fee, 4,000 Arrangement Fee and 2,500 Deposit on Missives (exchange). Missives will occur within 28 days of reservation. Only 7,500 up-front funds required, with the remainder on completion.
Re-Sales & Lettings: A local Estate Agent will be appointed for re-sales of those wishing to sell prior to completion. Local Letting Agents will be briefed for those wishing to rent their apartments. Furniture packages are available at competitive prices.

Detailed Information: To view the e-brochure for this property, please go to the following link and register for free:
http://www.thepropertyassociation.co.uk
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I trust that these updates continue to assist with your property investment success.
Best regards,
Peter Parfait.


The Positive Club

“The way you go in – in the morning – is the way they leave at night!”
 
A friend of mine called Paul is often accused by people, accused with a smile on their faces, of taking ‘Happy Pills’ every morning!
 
Why?
 
Simply because whenever you see him – he’s smiling, happy and displays a positive attitude!
 
What a great reputation to have.
 
And isn’t it just so true that the way that we go into work in the morning is going to have such an effect on the people we work with.
 
It’s likely to affect them all day. It’s likely to affect the way they work and it’s definitely going to affect they way they leave to go home at night.
 
Ok – so we might have had a hard time getting the kids ready for school, we might have had a difficult journey to work with the ever-increasing discourtesy we encounter on the roads, we might even just be in a bad mood because it’s raining – but –
 
If we just take a moment before going into work, take a deep and invigorating breath, stitch a smile on our faces (and minds) and walk in with a positive attitude - just think what a difference that will make.
 
After all – life’s a mirror – whatever we give out we get back.
 
I’d rather be accused, like Paul, of taking my ‘happy pills’ than be counted amongst those who are living for Friday night, bored with their existence and seemingly determined to ‘infect’ everyone else with their negativity.

Peter Thompson
peter@tgimondays.com


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Government Auctions UK Team