Brendons Auctioneers raised £3.2m at its penultimate auction of the year, pushing the firm’s annual total to its highest level for seven years.
“We are already up 25% 
on last year,” said auctioneer Phillip Arnold. “Bigger lots and an improved market means this has been our best year since 2007.”
So far this year the auction house has raised £22.2m.
At the latest sale, Brendons sold 11 of 18 lots offered – a 62% success rate.
The biggest lot was a development opportunity in Buckinghamshire, which sold post-auction for £2.3m off a guide price of £2.2m.
The freehold 0.8-acre site at 152-160 Kingsmead Road, Loudwater, has planning permission for 14 homes. Five existing houses are let on assured shorthold tenancies and generate £56,100 pa. The lot was sold to a developer on behalf of a private individual.
Also in Buckinghamshire, an Indian restaurant in High Wycombe sold to a private investor for close to the guide price of £775,000 – a 5% yield. The property generates rent of £36,000 pa.
The auction took place at Doubletree by Hilton, W8, on 20 November. The final auction of the year will take place at the same venue on 17 December.
