Savills’ first sale after the mini-Budget raised £36.5m – a 30% year-on-year increase.
This brings the firm’s total value of property sold in 2022 to £360m.
There was strong bidding in the 4 October auction, despite concerns over values and lending. Some 99 lots found buyers from 125 properties offered – a success rate of 80%.
However, around 30 lots were withdrawn prior, including three of the largest lots in the catalogue.
Two of these have already been listed as preliminary lots for Savills’ November auction, allowing buyers more time to digest the legal packs. They are a Grade II listed former manor house with an office building set in 5.5 acres in Marlow, Buckinghamshire, guided at £6m (lot 51); and a block of 17 let flats in Kingsbury Green, NW9, with planning permission for a further 18 flats, guided at £5.2m (lot 75).
The third, a Grade II listed townhouse in Bloomsbury, WC1, with planning permission to convert back from offices to a house, guided at £3.5m (lot 28), is likely to be brought back to market shortly, Savills said.
The highest value lot to sell under the hammer in the October sale was a half-acre site with development potential in Waltham Abbey, Essex, which made £1.36m. The lot included a bungalow, two flats, a house occupied on a sitting tenancy plus adjacent land (lot 17).
In Purley, Surrey, a shop on a retail parade with a four-bedroom maisonette above and potential to add further space sold at a gross yield of 6.68%. The hammer price was £584,000 (lot 29).
In London, a semi-detached house arranged as seven studio flats in Cricklewood, NW2, sold for £1.1m, a gross yield of 6.87%. The flats are let on ASTs (lot 20).
A vacant semi-detached house in Battersea, SW11, made £918,000 (lot 33).
Other successes included a vacant freehold two-storey terraced house in a sought-after residential location close to Clapham Junction, SW11 (lot 19). It made £904,000 from a guide of £725,000.
A two-bedroom, purpose built first-floor flat with a balcony in Camberwell, SE5 (lot 40), sold for £360,000 from a guide of £340,000 (lot 40).
To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews
