A set of six garages in north London sold for £1.4m at Lambert Smith Hampton’s 8 December sale – 20% above the £850,000 guide.
Camden council sold the 3,714 sq ft site in Holloway, N7, to a private Leeds-based firm. The garages, which have potential for an eight-flat scheme, were one of 55 lots sold out of 68 offered, reflecting a success rate of 81% and raising a total of £15.9m.
This brings LSH’s total sales for the year to £48.3m – a 75% increase on last year’s £27.5m total.
LSH auctioneer Ollie Childs said: “There is momentum from cash-rich investors and developers, as well as more high-net-worth individuals looking for money for their pensions.”
The sale took place at the Millennium Hotel, W1.
