Three large blocks of flats in Southampton, Hampshire, pushed sales at Andrews & Robertson’s latest auction to £14.8m.
Fifty-one lots out of 71 went to bidders on the day, while seven were sold prior, resulting in an 84% success rate.
Bidding on the Southampton flats, which generate £153,200 pa, opened at £2m and ended at £2.6m, reflecting a gross yield of 5.8%. The freehold blocks contain 44 self-contained flats, with 22 garages.
A church in South Norwood, SE25, with a self-contained flat above, sold for £935,000 against a £700,000 guide.
And a former nurses’ home in Margate, Kent, with permission for 29 self-contained flats and guided at £1.1m, sold for £1.7m.
Andrews & Robertson chairman and principal auctioneer Robin Cripp said: “Good-quality, income-producing stock is still sought after, with the South East doing particularly well at this auction.”
The sale took place on 22 September at the Hotel Russell, WC1.
