Savills’ residential auction this month raised almost £32m from an 83% success rate.
The sale saw robust demand for properties with London postcodes and costing less than £1m with potential for adding value.
The auction, held at the Royal Garden Hotel, W8, on 21 June, sold 107 properties – including 11 prior to the event – from the 130 on offer.
Around 80% of the catalogue was located within the M25, according to auctioneer Paul Mooney.
Mooney said: “We were really thrilled with the outcome. Viewings were down before the auction, but we achieved some very good results. Overall, this was a better auction than the one in May, but it is still a very tough market.”
A four-bedroom canalside cottage in Bow, E3, requiring complete refurbishment and offered on behalf of British Waterways with a guide of £425,000, made £820,000 (12 June, p57).
Virgin housing association stock sold well for the London Borough of Hammersmith and Fulham.
Seven out of eight properties in its portfolio were sold, including two three-bedroom homes.
One of these, in Ashington Road, close to the Hurlingham Club in Fulham, SW6, made £866,000 off a £625,000 guide. Another in Rosebury Road, SW6, which had a guide price of £525,000, achieved £656,000.
A development site in Pinner, Middlesex, with permission to build six flats, sold for £720,000 from its guide of £690,000.
