Barnett Ross sold 96% of lots offered at its first sale of the year, raising £10.4m.
The firm sold 19 lots in the room on 27 February and five prior, from a total of 25.
Highlights from the sale at the Churchill Hyatt Regency, W1, included a vacant, unmodernised semi-detached house in Whetstone, N20, which had been in the same family ownership for more than 50 years. It eventually sold for £740,000, more than £90,000 above the reserve.
Barnett Ross said the lot came as a late instruction on behalf of executors. The catalogue had already been signed off, so it benefited from its own slip and unique email alert.
A large freehold mid-terrace ground floor shop (pictured) let to Brighthouse on Swansea’s Oxford Street, the city’s prime retail thoroughfare, also performed well.
The shop with ancillary accommodation on the first, second and third floors, produces £35,000 pa and was previously let at £70,000 pa. It was offered with a reserve below £300,000 and sold for £426,000. Barnett Ross said it illustrated the potential to achieve results well in excess of the reserve price, when vendors are willing to set low, realistic reserves.
An unbroken retail parade at 2-10 Wellington Square in the heart of Minehead, Somerset, sold for £1,402,000, making it the most expensive lot sold in the room on the day. It comprises six shops with four flats above, producing £129,815 pa.
The next Barnett Ross auction will take place on Thursday 14 May 2020 at the Montcalm Hotel, 34-40 Great Cumberland Place, Marble Arch, W1.
