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LSH auction raises £12.1m from 85% of lots

Lambert Smith Hampton sold 85% of the lots at its 8 May sale, raising £12.1m.

Of 69 lots offered, 58 were sold including 54 in the room and four prior to auction.

Oliver Childs, head of auctions at LSH, said: “It was a busy, punchy room. There was quite a lot of surprise at some of the prices that were achieved.

“In other property sectors there is some nervousness, but in the auctions market, we are powering on,” he said.

The most expensive lot was a four-floor corner building in Nottingham, which included a bank and offices, and an annual rental income of £130,000. It was sold for more than £2.1m off a guide of the same amount on behalf of receivers.

One unsold lot with a guide of £2.7m to £2.8m was expected to sell after auction. The property, in Weybridge, Surrey, has a shop and flats above with planning approval for seven more flats.

Nineteen sites sold by Orbit Group with a total guide of £736,000, were all purchased for a total of more than £2m.

A high street building with bank in Chertsey, Surrey, was bought for £800,000 from a guide price of £750,000 by a private property company.

A detached office building in Southsea, Portsmouth, with 27 parking spaces and guided at £700,000 to £750,000, was purchased for £750,000.

Two flats marketed for the City of Westminster council sold for £380,000 from a guide of £250,000 and £405,000 off a guide of £250,000 respectively.

An unmodernised semi-detached house in Putney, SW15, was sold for Wandsworth council off a guide of £400,000 for £540,000.

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