Savills raised over £40m at its second auction of 2023, with the sale of 140 lots achieving a success rate of 77%.
The auction, held on 1 March, featured a mix of residential, commercial and development opportunities in London and across the UK. It was the first of two Savills auctions set to take place in March.
A River Thames-facing detached house, 1 Fulford Street in Rotherhithe (pictured), sold for its guide price of £1.5m, having been offered to the market for the first time in 28 years.
Some residential lots sold for significantly over guide price, including a two-storey, mid-terrace house in Barnes, which sold for £785,000 from a guide price of £540,000. A split-level garden flat in Islington’s De Beauvoir Conservation Area sold for £738,000, more than £200,000 above its £525,000 guide price.
Commercial highlights included a four-story Grade II listed high street retail investment property in Lymington, Hampshire, which sold prior to auction above its £775,000 guide price, and a shop with a duplex flat in Surbiton, Surrey, which sold for £630,000, more than £250,000 over its £375,000 guide price.
Savills head of auctions Robin Howeson said: “We were cheered by the results of our second sale of the year which built on the trends we saw in February’s sale of greater buyer confidence returning and increased competitive bidding.
“There was a notable return of owner-occupier buyers compared to recent months and we saw several residential lots in London achieve hammer prices well in excess of their guide price, more than £200,000 plus above in some instances.”
Savills has 14 auctions planned for this year. The next sale will take place on Tuesday 28 March.
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