Barnard Marcus’s second auction of the year raised £33.5m, an improvement on its January sales result of £29m.
The firm’s March sale offered 216 lots, up from its 199-lot January sale. Of these, 157 sold, a success rate of 73%.
This compares with success rates of 82% in January and 78% in December last year.
Residential investment opportunities in South West London proved popular with buy-to-let bidders.
The London Borough of Wandsworth sold a leasehold ground-floor, two-bedroom flat in Battersea, SW11, for £486,000 as well as a two-bedroom first-floor flat, also in Battersea, for £370,000.
A leasehold first-floor, two- bedroom flat in Tooting, SW17 sold for £415,000.
A freehold site with permission for 16 flats in Canning Town, E16, failed to sell despite attracting bids of up to £2.2m.
The top lot of the day was a freehold 10-flat HMO building in Bow, E3, with development potential, which sold for £1.3m – a 5.6% yield.
It produces £73,560 pa and has potential for conversion into five flats and redevelopment of the rear outbuilding.
A two-acre freehold plot of land in Hook, Hampshire, sold for just £5,000.
The sale took place on 8 March at the Grand Connaught Rooms, WC2.
• To send feedback, e-mail amber.rolt@estatesgazette.com or tweet @AmberRoltEG or @estatesgazette
