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Barnard Marcus sale tops £23m

Barnard Marcus raised just over £23m with a success rate of 68% at its latest auction on 16 May.

Of 223 lots, 150 were sold – 118 in the room and 30 prior. Two apartment blocks in Luton, Bedfordshire, were sold for £2m and £1.4m respectively.

One of the properties, consisting of 14 self-contained flats, produces an annual rental income of £112,500, with a yield of 5.6%.

The other building in Luton, made up of 11 flats, raises £83,800 per year in rent at a yield of nearly 6%.

An unmodernised four-floor building in Limehouse, E14, with two maisonettes, was purchased for £736,000, and another four-floor property in Forest Gate, E7, sold for £675,000.

A garden flat in Kilburn, W6, with development potential was sold for £650,000.

The auction was held at the Grand Connaught Rooms, WC2.

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