A student accommodation block providing 203 en suite bedrooms in Guildford, Surrey, will go under the hammer in the next Savills auction, with a guide of £2.8m.
Located on the Surrey University campus, the block is divided into 36 student flats (lot 201). It produces £984,096 per annum and has been put up for auction by a housing association. The sale is scheduled for 5 October, with the full catalogue yet to be released.
It will follow two additional auctions held in August and September by Savills to capitalise on strong demand.
The second of these raised £26.6m on 1 September with a 66% success rate.
“Our two additional auctions have collectively raised just shy of £50m, bringing the total raised in 2021 to a staggering £240m. This is 50% more than in 2020 and double the total raised in 2019,” said auctions director Jeremy Lamb.
A commercial investment in south-east London with planning consent to add nine flats sold for £2.1m from a guide of £1.9m. The corner block in central Catford, SE6 (lot 45) is let to an Admiral betting shop on the ground floor, providing a passing income of £53,000 pa, and has a back commercial unit which is vacant.
In Richmond, a ground and upper-floor lot (lot 46) sold for £533,000, a 6.3% net yield, after 69 competitive bids.
The Home Counties performed well with Kent and Essex producing some good results. A large detached house arranged as eight self-contained flats in Essex (lot 83) sold for £950,000 off a guide of £700,000. A completely unmodernised detached house on a half-acre plot (lot 6), was sold on behalf of Buckinghamshire Council for £580,000 from a £325,000 guide.
Other successes included a mid-terrace property in Kilburn, arranged as four studios and five letting rooms (lot 27). The NW6 property with development potential sold for £1.36m.
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