A large terrace building divided into studio flats in North London sold prior to McHugh & Co’s latest auction for more than £1m.
The six studio flats in the property on Leconfield Road, N5, are let on ASTs and produce £75,540 per annum, a gross yield of 6.43% on the £1.18m sale price (lot 46).
The success helped push McHugh’s total from the 26 May online sale to £45m. It sold 173 lots from 191 offered, a 91% success rate. A further 15 lots were withdrawn prior.
In Streatham, SW16, a charity vendor benefited from the sale of a house arranged as two maisonettes. The vacant lot sold for £737,000 (lot 6).
Outside London, a 130 sq ft cottage in a terrace in Glemsford, Sudbury, in Suffolk, sold for £155,000 (lot 40B).
In Peckham Rye, SE15, a fire damaged end of terrace house in need of repair and modernisation and offering potential to extend, subject to planning, sold for £859,000. The property close to Peckham Rye Overground and Rail Station had been in the same ownership for around 28 years (lot 8).
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