The 5,428 sq ft, seven-storey block at 141-142 Fenchurch Street, EC3, has a guide price of £850,000 – a 10.3% net yield on an £87,152 rent roll. The 99-year leasehold is being sold by the Goldsmiths’ Company.
Also under the hammer is a development opportunity at 124 Cavendish Road, Balham, SW12.
The vacant two-bedroom garden flat has planning permission from Lambeth council for an extension and the creation of a separate two-bedroom flat. It has a guide price of £675,000.
So far in 2014, Auction House London has raised £82m and achieved an average success rate of 90%.
Auctioneer Andrew Binstock said: “The market has re-stabilised, but the reality is that audience levels have cooled since September.
“Prime stock in good areas, including secondary and tertiary commercial stock, has been hard to sell unless it has had a high yield. I cannot see this changing much next year.”
The auction will take place on 19 December at the Everyman Cinema, NW3.
