Lambert Smith Hampton’s biggest catalogue failed to translate into a record success rate, with the proportion of lots sold down by 18 percentage points on the previous month’s sale.
Out of 70 lots offered, 15 sold prior to the auction and 35 went in the room, raising just under £13.4m. The 75% success rate compares with July’s 91%, May’s 88% and February’s 96%. The sales total was down on the £15m raised in December 2014.
One unusual lot was a freehold island of 1.1 acres on the River Sour, near Loughborough, Leicestershire, with a waterfront bungalow needing refurbishment. Sold by executors, it fetched £152,000 from a guide range of £90,000-£100,000.
The most expensive property sold was a freehold dental practice in Thames Ditton, Surrey, which went over its £745,000 guide price, attracting a winning bid of £1.1m and a gross yield of £3.47%. The lease on the 4,000 sq ft detached building expires in 2023, offering potential conversion into residential.
A 1,700 sq ft parcel of land behind a garden in Ealing, W5, went for more than twice its £225,000 guide, with bids landing at £480,000. Sold by Ealing council, the land has permission for a two-bedroom house.
A freehold shop in Watford, Hertfordshire, also went for more than double its guide price and sold for £610,000 with a 4.92% gross yield.
The sale took place on 12 October at The Millennium Hotel, W1.
