Savills has raised £48m through its May auctions, bringing its total raised so far this year to more than £300m – a 60% uplift on the same period last year.
The two-day sale on 8 and 9 May achieved a success rate of 74%, with 179 residential, mixed-use and commercial assets sold.
The highest-value lot sold under the hammer was a mixed-use investment opportunity in Ealing, which went for just over £2.9m. The terrace of four shops and 18 self-contained flats produces rent of £302,180 per annum.
In Hertfordshire, a large, detached family home with separate annex sold for £1.6m, while a two-storey terraced house in Fulham, went for almost £200,000 above its guide price at close to £1.6m.
A four-storey office building just outside Aberdeen attracted particular interest and sold prior to the auction. It was guided at £900,000.
Auctions negotiator director Steven Morish said: “Having raised nearly £300m so far this year, there are currently no signs of the market slowing as we enter what is traditionally a busy spring-summer market.
“Our sale illustrated that there is plenty of demand still in the market, particularly for well-priced residential stock, as well as investments and developments across the country. However, it’s clear to see that buyers are seeking value or a high-yielding opportunity in which to invest their cash.”
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