Savills experienced strong demand for residential properties at its first auction of the year, despite the ongoing national coronavirus lockdown.
A total of £37m was raised at the 9 February sale, which saw a 77% success rate as well as the firm’s highest number of registered bidders.
The sale was the first of two auctions taking place in quick succession to help buyers complete before the stamp duty holiday ends on 31 March, the next being held on 2 March.
The 122 lots on offer ranged from a set of five garages in Napton on the Hill, Warwickshire (lot 127), which sold for £70,000, to three self-contained flats at 307 Trinity Road in Wandsworth, SW18 (lot 8), which went under the hammer for £1.855m.
Other notable lots included a three-bedroom terraced house on Madras Road in Cambridge (lot 2), pictured, which sold for £370,000; a Grade I listed retail and office property with a former court room to the rear on Fore Street in Chard, Somerset (lot 62), which reached a sale price of £166,000; and a 43-bedroom former care home at Beacon Farm in Cramlington, Northumberland (lot 65), which has potential for redevelopment and sold for £345,000.
Christopher Coleman-Smith, head of Savills Auctions, said, “We found that houses were in demand, both in London and the country; anything with an option to add value sold really well.
“Away from residential, we had a good run on shops and upper parts, care homes and sites too. The upcoming stamp duty deadline was a factor for many of our bidders, and we anticipate this also being the case in our March sale.”
