Strettons recorded a 67% success rate at its latest auction at the Grand Connaught Rooms, W2, this week, raising £6.9m.
The auctioneer said it was confident post-sales would push the rate past 70%.
A total of 34 lots sold, including eight prior. Ground rents and resi plots with refurbishment potential were in particular demand.
The highest price fetched was for 30 Albion Drive, a regulated tenancy on a terraced five-room house in Hackney, E8, which sold for £605,000 off a £450,000 guide price. It was sold by the trustees to one of the UK’s major listed landlords.
A ground rent on a 43-flat block at Coxes Lock Mills, Surrey was guided at £175,000 upwards but sold by receivers to three private individuals for £236,000 – a yield of 5.83%.
Land lots were popular. An 0.1-acre plot on Fulham Road that attracted over 100 requests for information was sold prior by a private individual to a local resident for over £120,000.
Another site that had been withdrawn from auction several times, at Sandgrinham Road in Hackney, sold for £112,000 off a £35,000-£55,000 guide. The site, which has no planning, attracted phone bids from nearby residents wishing to buy it as a car park. The sale price equated to £8m an acre.
Average yields were around 9%.
chris.berkin@estatesgazette.com
