McHugh & Co raised £18m at its latest auction at BAFTA on Piccadilly, W1.
Out of 48 lots offered – with lots in London and the Home Counties – 39 were sold in the room and 43 in total, giving a success rate of 90%.
The total represents the third-highest McHugh has raised in recent years, with a £19m sale achieving a 100% success rate in February, and an £18m sale in July 2013. Before this, McHugh had not topped the £17m mark since October 2009.
The best price was a freehold vacant unmodernised terrace house on Arlington Road in Regents Park, N1. The property sold on behalf of a charity ?to owner-occupiers for £1.5m off a guide of just less than £1.3m.
Elsewhere, a string of flats in Kingsbury, N9, sold for £1.2m – a 4.8% yield – while an office and warehouse plot in Mill Hill, N7, with planning consent for nine flats, sold for £1.5m off a £1.2m guide price.
McHugh & Co principal James McHugh said the auctioneer was seeing the majority of properties sold in excess of guide prices, particularly in competitive areas in London.
The auction took place on 30 April.
chris.berkin@estatesgazette.com
