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Mixed bidding sees Strettons raise £10m

Strettons raised £10m at its latest auction, with mixed bidding in the room.

The firm’s 21 May auction achieved a 74% success rate.

The highest price achieved on the day was just over £1.1m, for a restaurant and eight flats in Hendon, NW9, producing almost £93,000 pa.

Three industrial units in Tonbridge, Kent, sold for £990,000, a gross yield of just under 8.5%.

A part vacant residential and commercial unit in Ilford, Essex, producing £19,740 a year sold for £385,000 – an initial yield of 5% with scope to increase.

In Ealing, W5, a vacant restaurant with residential potential sold for £814,000.

A shop with two floors of residential above, close to the new Tottenham Hotspur stadium, sold for £480,000.

Strettons’ next sale takes place on 16 July.

To send feedback, e-mail samantha.mcclary@egi.co.uk or tweet @samanthamcclary or @estatesgazette

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