A record number of lots was offered at Savills’ most recent auction, raising £69.9m.
Some 258 lots were offered at the 28 September sale, with 205 selling in the room and seven selling prior, producing an 84% success rate. By comparison, July’s sale raised £45.9m from 169 lots, and June’s raised £64.2m from 189 lots.
Savills’ head of auctions Chris Coleman-Smith said: “September’s auction was our biggest to date, both in terms of number of lots offered and total sales.
“There was strong demand for a diverse range of lots. Standout properties included a prominent corner building in Holloway, N7, selling for £1.2m from a £750,000 guide, and a derelict outbuilding in SE22 with planning that sold for £440,000 from a £325,000 guide.”
The top lot was a 17,698 sq ft site in Romford, Essex, let as an MOT centre, with permission for two three-bedroom houses, nine two-bedroom flats and five one-bedroom flats, with no affordable housing element. Guided at £1.3m, it sold for £1.5m.
A freehold 6,844 sq ft former pub in Holloway, N7, with a rental income of £56,760 pa, sold for £1.2m, representing a 4.73% gross yield.
A freehold site in Kingston-Upon-Thames, Surrey, with permission for five flat
s, sold for £850,000 off a £725,000 guide.
Garages also performed well, with all five lots selling above guide. A row of three garages in Streatham, SW16, sold for £205,000, more than four times the £50,000 guide price.
The sale was held at the London Marriott hotel, W1.
