Strettons raised £12.1m in its final auction of 2020, taking its total for the year to £74.8m.
The figure is up from £63m in 2019.
The 15 December sale achieved a 94% success rate, with several notable lots selling, including a plot of freehold vacant land in Iver, Buckinghamshire, which included a derelict electricity substation. It sold for just over £1m, well above its £150,000 guide price.
Auctions director Andrew Brown said: “Lots such as this is why I love auctions and demonstrate why they are the best sales method for properties that are unusual and difficult to value. It is highly unlikely that the site would have achieved this price if it had been sold by private treaty. It would never have been marketed at that price, but in our auction we had several motivated buyers who clearly had costed plans for the site which meant that, after very competitive bidding, it was sold for almost 10 times the guide.”
The highest price of the day was achieved on a vacant 21-bedroom hotel with development potential in South Woodford, which sold for £1.5m. Other top sellers included a freehold vacant shop, basement and residential investment in Bethnal Green, which sold for £910,000, £135,000 above guide, and a freehold restaurant and flat in Richmond, Surrey, which sold for £764,000 against a guide of £600,000-plus.
Strettons’ next sale takes place on 17 February.
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