Spirited bidding by investors, developers and owner-occupiers at McHugh & Co’s sale of commercial and residential properties last week produced a success rate of 87%.
“We had a good mix of buyers in the room, and interest was particularly strong in some of the lots offered on behalf of Camden Borough Council,” confirmed auctioneer Chris McHugh.
A partially completed block of 12 B1 units in Hornsey, N1, achieved the best price of the day when it was bought by a property investor for £425,000. It is thought that the purchaser will complete the development, which has permission for a further two units and 16 houses, before selling the property on.
Six of the 29 lots were offered by Camden council. A vacant shop unit with residential upper parts, in Finchley Road, NW3, realised £137,000, while a flat above another Finchley Road shop achieved £77,500.
One vacant ground-floor flat and upper maisonette in Kentish Town, NW5, achieved £131,500, and a similar property, also in Kentish Town, sold for £130,000.
McHugh & Co’s next sale is on May 15.
