Savills raises £33m in spring sale
Savills’ fourth auction sale of the year raised more than £33m, up by 40% year on year.
The spring sale, and the first of Q2, saw a mix of residential, commercial and development opportunities sold.
A mixed commercial and residential lot in Beckenham, south east London, comprising 10 retail units and 16 flats, among other accommodation and garages, sold for £8,010,000 – nearly double its guide price of £4,500,000. It made it one of the most expensive properties to be sold under the hammer by any auctioneer.
Savills’ fourth auction sale of the year raised more than £33m, up by 40% year on year.
The spring sale, and the first of Q2, saw a mix of residential, commercial and development opportunities sold.
A mixed commercial and residential lot in Beckenham, south east London, comprising 10 retail units and 16 flats, among other accommodation and garages, sold for £8,010,000 – nearly double its guide price of £4,500,000. It made it one of the most expensive properties to be sold under the hammer by any auctioneer.
Residential lots in London and other UK cities continued to perform well. A two-bedroom first-floor maisonette in Ealing, W5, sold for £405,000, from a guide price of £225,000. A townhouse in Islington, N1, achieved a sale price of £905,000. A two-bedroom mid-terrace house in Cambridge, which had a guide of £270,000, sold for £340,000.
Commercial lots also achieved some strong prices. A three-storey mid-terrace property, comprising of a commercial unit on the ground floor and a two-bedroom maisonette flat, sold for £555,000 – £60,000 more than its guide price.
Jeremy Lamb, director of Savills Auction team, said: “We are really pleased to have had such a strong start to the year, having sold £167m worth of property year to date and expect this level of interest to stick around.
“On the residential side, end users are active at the moment and there is an increasing demand for owner occupier stock.”
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