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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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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.

Here is the list of stock due for the next auction at Tilbury. If transport is a problem, please give us a ring.
Park and Ride Service now in operation. For full details please visit the website on www.japaneseimportauctions.com

Fleet Auction Group (Trade)
FLEET SALE
MONDAY 23rd AUGUST 2004
11.00am

On behalf of various Liquidators and Administrators we are instructed to offer for sale by tender:

Zeiss MEL 70 G-Scan Excimer Laser

Further details and a pictorial record are available by visiting the Asset Disposals page at http://www.walkersingleton.co.uk

Specific enquiries regarding this sale should be directed to assets@walkersingleton.co.uk

Lithgow Sons & Partners, The Auction Houses, Station Road, Middlesborough. Tel: 01642 710158. Wednesday 18th August at 11am; a sale of catering equipment, hotel and bar furnishings. Taking place at The Auction Houses.

John Pye, Riverside Auction Centre, Chadkirk Industrial Estate, Vale Road, Stockport. Tel: 0161 449 7999. Thursday 19th August from 9am to 4pm; a tender sale of telecommunication stock and peripherals. Taking place at BCS Group, Donnington House, Derby Road, Heanor, Derbyshire.

Frank Hill & Son, 18 Market Place, Patrington, Hull, East Riding Of Yorkshire HU12 0RB Tel: 01964 630 531. Saturday 21st August; sale of ride on lawnmowers and miscellaneous equipment. Taking place at Fourwinds, Burstwick, Hull.

George Hazell & Co, The Auction Centre, Watton, Thetford. Tel: 01953 88255. Tuesday 24th August at 11am; a sale of builder's plant and equipment, office furniture and equipment, kitchen and bathroom fittings. Taking place at Sawmill Road, Diss, Norfolk.

CJM Asset Management, Duchess House, Queensway Court, North Lincs. Tel: 01724 334411. Tuesday 24th August; a sale of woodworking machinery, engineering and machine tools, contractor's plant, workshop equipment, IT and business equipment, new pine furniture and vehicles. Taking place at 27 Brigg Road, Scunthorpe.

Smith Hodgkinson & McGinty, Knowsley Way, The Auction Centre, Unit B, Haslingden, Rossendale, Lancs. Tel: 0161 233 2900. Saturday 24th August at 10am; a sale of garden centre plant and accessories stock, nursery equipment and effects. Taking place at Windy Arbour Road, Whiston, Merseyside.

It’s Peter Parfait with an article on property syndication for you, written by Jonty Crossick, and some fascinating involvement opportunities at the end. Hope this is of interest.

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The Benefits Of Property Syndication
Syndication can be an excellent way for you to exploit property opportunities that otherwise may be out of reach. It’s a great way to overcome those two obstacles to the would-be developer of Time and Money. In this article, Jonty Crossick, entrepreneur, property investor and founder of Ready 2 Rent, talks about how syndication works and how you could benefit.
You may recall that last year I went on the investment rampage and bought nearly 70 buy-to-let properties in the North of England. Then I started up Ready 2 Rent as a club to help other investors take advantage of great property opportunities across the UK and throughout Europe.

As an investor, I also like off-plan. You get in early and, if you have done your homework, you can make good money either through flipping (selling prior to completion), selling and capitalising post-completion or holding and renting. Personally I am a hold-and-rent type of investor, but all these strategies can work as long as you have checked out your development from the right angles.

At the same time, the more I looked at what developers are up to the more I thought to myself how I want a piece of that developer’s action. But the amount of capital required to get a development off the ground can be beyond the means of most private investors and landlords – running into the millions. And if you are anything like me then you are always acquiring ‘something’, which means that your cash is often committed before you have time to spend it! This “investors’ stretch” means that funding developments is even more out of your reach at most times. Also, developments absorb time and most investors just don’t have the time to focus on this kind of project.
Time, Money, Know-How & Contacts

But then I re-read some of my strategy advice to others. One of the first questions I ask is: what are your four key resources? The answer is Time, Money, Know How and Contacts. What are your next four key resources? The answer is: other people’s Time, other people’s Money, other people’s Know-How and other people’s Contacts. This got me thinking: how about if the Ready 2 Rent club could find excellent development opportunities for investors to pool their money?
Instead of having £50,000 and working in a full-time job and thinking “No way, I can’t get into developing, as I don’t have the time or money” you can use the power of clubbing together to make some great returns on single projects.
Overlooked Northern Ireland

This year I have been looking for land to develop in Northern Ireland. I now have a great source of excellent sites. The first one that came through was located in the picturesque town of Donaghadee, looking out to the Irish Sea. At the same time, I put together a team, including builders, project managers, architects, quantity surveyors, estate agents and letting agents. The first syndicate, consisting of nine investors, was oversubscribed. The land has been bought and the foundations are now being laid for three luxury villas with sea views. The aim is to deliver returns of between 60% and 93%.
One of the great things about investing like this is that you know exactly where your money is going. It is not being funnelled into a big pot and spread all over the place into countries and projects about which you know nothing; it is dedicated to a single development and you can see the due diligence up front.

Risk Reduction
The other factor that I like is that you can invest in developments where the number of units being built is relatively small. 5, 10 or 20 units can reduce the risk of the investment when compared with, say, a project ten times as grand, which may test market demand. The only exception to this rule is where there is enough margin for Ready 2 Rent to offer the built units at well below market value to investors.

The point is this: that by joining a syndicate you can make the kind of money a developer makes without having to do all the work. As a developer you have to find the land, negotiate its purchase, borrow the money, design the scheme, build the properties, manage the whole project, market the units, ensure that the sales are completed as well as keeping on top of the finances. As a passive investor of a syndicate, what do you have to do? Well, after doing your own research and questioning the assumptions of the syndicate leader, you simply write a cheque. There should be no more work involved. That is a big advantage, if time is precious to you. Developer rewards, but no demands on your time; an ideal situation.

How To Make 100% Returns
The other upside of joining a syndicate is the increased profits you can make by the syndicate borrowing the right amount of money. For example, say you are thinking of getting involved in a project whose total costs (land, building and all other project costs) amount to £1 million. Then, say the forecast is that sales of the units at the forecast market price will be £1.3 million, so profits are predicted at about £300,000. Without borrowing (ie using cash), that obviously amounts to a 30% (£1.3 million divided by £1 million) return on you money. But if the syndicate is borrowing, then returns can be a lot higher. For example, if the bank agrees to lend 70%, then the cash needed by the syndicate will be £300,000 (30% of £1 million). The conclusion is that profits of £300,000 could be earned on cash invested of £300,000. That’s a 100% return. And of course these profits can go higher depending on the developer’s margin (ie the difference between total sales and total costs).

Control & Focus
The other aspect to this kind of investment I really like is that, as previously mentioned, in a true syndicate situation you know exactly what project you are investing in. Investing in a property unit trust may sound good because it offers a diversified solution. But if you look at share investing, many general vehicles end up delivering quite average returns, as they can’t afford to focus on projects that can buck the market and deliver truly excellent returns. In the case of a syndicate, you should be investing where the leader has an entrepreneurial eye, looking for that well-priced piece of land, able to exert control over the project to deliver you top returns. I like the idea of putting money in a single project that has really been thought through by the syndicate leader and which is managed and controlled with a firm grip. This is much more attractive than ploughing money into vehicles that splash capital in a scattergun manner across a wide range of projects, which is ultimately in chunks too small to deliver high returns.

In addition to being able to get involved in developments, syndication allows you to participate in commercial property investments, which tend to require more capital because of the size of investments available. By syndication, you create opportunities to invest in larger student accommodation blocks, retail units, warehouses or mixed sites which would otherwise be out of reach.

What is the difference between a club, a syndicate and a unit trust?
A club will offer you property opportunities and you will purchase and complete on a single unit owning it entirely yourself. A unit trust is where you invest in a property fund, which will place pooled resources from potentially thousands of investors into a range of investments. You will earn a return from the combined profits of all investments, less the costs of running the fund. A syndicate usually involves the setting up of a limited company (or limited partnership) which pools the money of a select group of investors who own shares in the company. That company owns and runs the development and investors make money through the profits of the firm created for the specific development.
I trust that you may be interested in joining with me in syndicated projects I am currently engaged in (see below).
Jonty Crossick

Further Research: Jonty Crossick of The Ready 2 Rent Club specialises in project managing selected syndicated property developments and broking excellent, heavily-discounted off-plan overseas opportunities, currently in Spain, Prague and Hungary. His recent 33% discounted deal in Marbella sold out with days, and his current Turre development is selling fast, at a 30% discount to market value. To join Ready 2 Rent and take advantage of deals secured by Jonty, register with him by calling 01273 609 267 or e-mail: iross@ready-2-rent.co.uk.

Syndication Opportunity 1 - in the scenic town of Bangor, Northern Ireland, to develop 7 apartments, with the aim to deliver in excess of a 50% return.

After the successful launch of a development in the prestigious sea-fronted town of Donaghadee, in Northern Ireland, Ready 2 Rent is putting another syndicate in place in a prime area of Bangor. Bangor is one of Northern Ireland’s most stable, thriving towns with its own marina. This scheme includes 7 apartments in a very good part of the town where demand is high and supply short. The aim is to deliver returns in excess of 50% and interest is expected to be very strong, while places are limited. Call Ready 2 Rent on 01273 609 267 or e-mail: iross@ready-2-rent.co.uk. Please let reception know you are interested in ‘Ready 2 Build’.

Syndication Opportunity 2 - Cambridge House – a recently built block of 48 student rooms in the heart of Manchester. 8.2% gross yield, minimum investment level £30,000, no stamp duty.

Here is your chance to own a prime piece of commercial real estate with proven returns. It is not often that you can achieve 8.2% gross returns and 6.5% net returns in the UK given current prices. Here is an opportunity being put in place by Jonty Crosssick of Ready 2 Rent to offer a syndicate a recently built student accommodation block of 48 rooms, currently being upgraded, with a another £100,000 being spent on it. Located in the heart of Manchester, this site is fed by Manchester’s two major universities, which are both within walking distance. If you add the fact that Manchester university numbers are set to swell by up to 30,000, which will fuel student demand and thus rents, this is a an exciting commercial syndicate. A nice bonus is that there is no stamp duty to pay. Ready 2 Rent will organise the syndicate arrangements and the lending so there will be minimum hassle for you. Call Ready 2 Rent on 01273 609 267 or e-mail: iross@ready-2-rent.co.uk for further information. Call quickly, as only a limited amount of capital is required and demand will be strong. Please let reception know you are interested in ‘Syndicates’.

CGT-Free Off-Plan Paris Apartments – Only 27 Available

At last, it's here: the most sought-after leaseback in France.
After our immense success in Paris (43 apartments going in 3 days), we have been asked to market this prized leaseback to the UK market. Our track record is second to none: the Paris apartments went up by 15%, but not before we got the best apartments at the lowest prices for our members - each of them making in excess of 30% equity before they even take ownership. Now the Argeles leaseback is available to our members only, as we have UK exclusivity. We only have 27 apartments. That means that only 27 investors in the UK will get to buy here. With appreciation last year in excess of 28%, prices from £60,000, and capital gains tax-free incentives, it's no wonder there is a worldwide waiting list for this development of over 600 buyers.

Reservations will be on a first come, first served basis. Please contact us as soon as possible after registration (which is free) at http://www.ThePropertyAssociation.co.uk. Then call us. Leave a message if all lines are busy. We will call you back as a matter of priority.
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“The Shoe Shop’s Slip!”

So here I am in the spare room of a friend’s house at 6:00 in the morning lifting my suitcase – when something nags my mind.

“ This case isn’t heavy enough!” I think to myself. “There’s something missing”.

Funny how attuned we can be to the world around us isn’t it?

This morning I’m running the first day of a two-day sales seminar and there are about 40 people coming from a variety of different companies.

Opening the case I realise that I’ve forgotten to pack my black shoes, the black shoes to go with my suit. That leaves me only with the casual brown boat-type shoes I’d driven up in yesterday.

Oh well – not to worry – I can get a new pair of shoes at a local shop.

Off to the hotel where the seminar is running – great! an early delegate!

“ Here’s what happened” I tell him. And with a smile on my face, “I’m off to buy some shoes, if I’m a few minutes late, you start the seminar, tell everyone what’s happened and get them networking ‘til I get back”

I’ll never forget the look on his face as he somewhat reluctantly agreed to my request. (Perhaps a bit more like a demand!!)

So off to the shoe shop! Time 8.55.

Staff in the shoe shop – sitting at the back having an early morning coffee.

With a smile on my face I knock on the door. One of them frowns at me, points to her watch and then looks away.

Undaunted by this rejection, and a bit concerned for my delegates, I knock again – using my best hound dog expression.

I get the same response!

At 9 o’clock and not a second before, the shop opens.

Do I buy the shoes from this shop? Yes!
Will I EVER go back? No!

How many times has someone’s attitude prevented you from making a second purchase? And could this be happening in your business? Could you be making the shoe shop’s slip? I hope not.

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