Forty-four lock-up garages sold for almost double their combined guides at Barnard Marcus’s February sale.
The garages, spread across London and Surrey, sold for a total of £1m off a combined guide of £540,000.
Divisional managing director Chris Glenn said this reflected local authorities’s desire to sell non-core assets. He added: “People were looking to buy garages as development opportunities.”
The sale helped Barnard Marcus achieve its best result for a February auction since 2010, selling 76% of the 200 lots offered for a total of £26.6m.
A 4,276 sq ft detached house in Chatham, Kent, sold for £650,000, off a £365,000 guide, and a 0.2-acre former car park behind the house was sold to another buyer for £280,000 off a £190,000 guide.
Glenn said the car park would gain planning for four houses “without any trouble”.
The sale took place on 2 February at the Grand Connaught Rooms, WC2.
