Strettons raised £11.5m at its 20 October auction, the firm’s penultimate sale this year.
Of 62 lots offered, 47 sold, reflecting a 76% success rate. A total of nine lots sold prior.
The top lot was a mixed commercial and residential investment in Golders Green, W1. The 3,600 sq ft freehold corner building offered by LPA receivers includes five shops, nine offices and nine flats. It sold for £2.1m, reflecting a 11.4% yield. It has scope for redevelopment, subject to planning.
The £11.5m result is just under the £11.7m raised at Strettons’ February auction, at which 48 out of 54 lots sold, an 89% success rate.
Auctions director Phillip Waterfield said: “Low inflation, available financing and confidence are attracting a different kind of investor. It has been a better market this year, but it is still hard.”
Strettons will hold its final auction of the year on 9 December at the Grand Connaught Rooms, WC2.
