Savills recorded a success rate of 79.5% at its latest sale, which raised £30.5m.
The result represents a significant bounceback after June, when Savills initially sold 65% of its catalogue before hitting 71% post sale. The auction house said at the time that it would be more selective in taking stock for its next auction.
This paid off on Monday, when it raised a total similar to June’s sale but from 46 fewer lots offered. Savills said it could have listed another 50 lots, but chose to limit the total offered to 118.
Head of auctions Chris Coleman Smith said there was some “trepidation” before this month’s auction, but the total represented “a storming result”. “It shows other auctioneers there is a market there,” he said.
Three buildings in Suffolk, including an old pump house and water treatment works, were sold on behalf of Anglian Water for amounts well above the guide prices.
The priciest lot was a terrace house in Balham, SW12, that sold on behalf of Grainger for £925,000 against a guide of £850,000.
The cheapest lot was seven parcels of land with development potential in Bishop’s Stortford, Hertfordshire. It fetched £2,000.
The sale was held at the Sheraton Grand Park Lane Hotel, W1, on 24 July.
