Savills Auctions held the first of its two November sales on 8 November, raising £28m and bringing the total value of property sold by the firm in 2022 to £390m.
A success rate of 72% was achieved despite the increasingly challenging macroeconomic backdrop. Residential highlights from the sale in London included a three-bedroom house in Chiswick (lot 23) that sold for £795,000, a four-bedroom apartment in Chelsea Harbour (lot 80) that sold for £1.89m shortly after the sale and a garden flat in West Hampstead (lot 69) that sold for £598,000, more than £170,000 over its guide price.
Elsewhere in the country, a former residential outdoor education centre set in 1.92 acres in Wales (lot 39, pictured) sold for £375,000 and a three-bedroom house in Hampshire (lot 74) sold for £293,000, nearly £200,000 over its £100,000 guide price.
Investment, development and yield-generating highlights included an impressive Georgian investment opportunity in Islington (lot 14) that sold for £464,000, an industrial opportunity in Newmarket (lot 50) that sold for just over £1m and a warehouse building in Chiswick (lot 110) that sold for £590,000, more than £110,000 over its guide price.
Robin Howeson, head of auctions at Savills, said: “Our first of two November auctions showed that well-priced stock sold particularly well, and in many cases exceeded the guide price. The sale saw strong bidding for realistically priced assets, illustrating the importance of pricing well to attract bidders.
“We have two auctions remaining this year, the next of which is on 24 November, which will be followed by our final sale of 2022 on 14 December. The second November sale presents a great opportunity for buyers and sellers who are looking to transact before the year end.”
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