Brighton-based Austin Gray auctions achieved its biggest sales total this year with £17m.
The firm has had an average success rate in 2014 of 85%, and overall totals are 34% higher than last year. Its previous record was before the crash in 2006, when it raised £14.4m.
At its most recent sale it raised £5m, selling 14 out of 15 lots.
Auctioneer Nick Muston said: “This is the finest auction we have had. It was focused on Brighton, an affluent area where people want to invest.”
Locals were outbid by private London investors on a block of seven flats in Castle Street, which were sold on behalf of a private property fund for £1.6m – a 5.3% yield.
A pair of freehold shops in the famous Gardner Street, being sold on behalf of a family trust, were bought by a local landlord for £865,000 – more than £100,000 over the asking price. The acquisition price reflects a 4.9% yield.
“Although we didn’t have many lots we had expensive lots, even attracting investors from Wimbledon, south-west London, who wanted assets in Brighton,” said Muston.
The auction took place on 20 November at Hove Town Hall, East Sussex.
