Savills’ auction on 14 June saw the firm’s highest amount raised in more than five years, and the most ever raised at a June auction.
The sale saw an 84% success rate, with an average sale price of £460,000. A total of more than £65 million was raised across 143 lots, bringing the total raised in 2022 to £210 million – 33% up on the same point last year.
Eleven lots sold for more than £1 million, including a mid-terrace property in Holloway, a freehold development site in Brentwood and a mixed-use site in Reading.
Fuurther highlights included:
- Lot 50 – 26 Netherhall Gardens in Hampstead, a residential property with development potential. Was guided at £5 million and sold prior to the sale significantly above guide price.
- Lot 28 – Three buildings comprising 20 flats in Romford, Essex saw significant interest and competitive bidders, with buyers drawn to the investment aspect while also being able to develop at the same time. This sold for £1.825 million.
- Lot 100 – Substantial office building with asset management opportunities in Halesowen, West Midlands. Sold for £870,000.
- Lot 86 – Commercial building, currently let to HSBC, in the heart of a Dorset town, went under the hammer for £660,000.
Robin Howeson, director at Savills, said: “This was one of the best auctions that I’ve seen in many years – it hasn’t felt that buzzy for a long time. Going into this sale we knew we had a really strong catalogue, but you never know what’s going to happen on the day.
“We saw great success for quality stock across London and the country. Our virtual room hit a record number of registered bidders, drawn to the variety of best-in-class lots across residential and commercial and the flexibility of our live but virtual method of sale.”
Savills’ next sale will be held on 19 July.
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