A former public lavatory in Lambeth, SE27, sold for more than twice its guide price at the most recent Lambert Smith Hampton sale.
Offered on behalf of Lambeth council, the lavatory block sold for £124,000 off a £60,000 guide price. It was bought by a private individual. The 613 sq ft decommissioned subterranean conveniences offers development potential (Comment, p46).
It was one of 46 lots that sold out of 56 offered, an 83% success rate. The sale raised £11m.
One of the largest lots was a block of flats in Redhill, Surrey, that sold for £1.1m off an £850,000 guide price. The freehold residential block comprises six properties that produce £64,680 pa.
Head of auctions Oliver Childs (pictured) said: “Following months of uncertainty in the build-up to the general election, the atmosphere in the auction room remained unchanged from our previous sale with aggressive bidding and certainty for most sellers. The commercial auction market continues to expand as confidence improves.”
The auction took place at Le Méridien Piccadilly, W1, on 11 May.
