100% success for LSH’s online-only debut

LSH-THUMB.jpegLambert Smith Hampton achieved a 100% success rate at its first online-only auction, which finished on 11 February.

The sale received 318 bids in total and raised £451,750.

The highest price achieved was £221,500 for a disused reservoir and building in Derbyshire on a half-acre plot.

The second-highest selling lot was a former reservoir in Worcestershire on a 0.2-acre plot, which sold for £97,000.

Capita, on behalf of Severn Trent Water, sold a portfolio of four former reservoir sites in the Midlands, all of which are suitable for alternative use.

According to LSH, it is the first commercial auction house to run UK online-only property auctions. It said it received international interest for lots, but successful bidders were private individuals or small companies from the region.

Oliver Childs, head of -auctions at Lambert Smith Hampton, said: “Taking an auction online puts the bidder firmly in control in terms of privacy and convenience.”

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