A JLL sales office in a Berkeley Group development on Kensington High Street was one of the highlights of Barnett Ross’s October auction, selling for £700,000, representing a 5.35% yield.
The 833 sq ft shop front was one of four commercial units at St Edward’s 375 Kensington High Street development, W14, to go under the hammer at last week’s auction.
Another two of the units, comprising a gym and a pilates studio, sold for £450,000 and £550,000, while a larger 1,205 sq ft unit let to a clinic failed to sell for a guide price of £1.2m and is currently available for £1m.
Overall Barnett Ross raised a total of £14.5m, selling 45 of the 48 lots offered at the auction, and representing a success rate of 94%.
The most expensive lot sold was a corner block of three flats and two vacant shops on Willesden High Road, NW10, with a current income of £38,480, which sold for £1.3m.
A Victorian terraced house in Wandsworth, SW11, which had been converted into two flats was one of the most popular lots on the day. It was offered with a reserve below £600,000 and eventually sold for £825,000, representing a 2.5% yield.
The next Barnett Ross Auction will take place on 17 December at the Churchill Hyatt Regency in Portman Square, W1.
