Savills’ bumper September sale yesterday raised £69.3m from 258 lots.
The sale saw 205 lots sold in the room, with seven selling prior – an 83% success rate.
By comparison, July’s sale raised £45.9m from 169 lots, and June’s raised £64.2m from 189 lots. According to Essential Information Group figures, yesterday’s sale is Savills’ biggest ever by volume of lots and sales.
A row of three garages in Streatham, SW16, on a square parcel of land, were sold for £205,000 – more than four times their £50,000 guide price.
Other garages performing well at the sale included a pair of garages on an L-shaped parcel of land in Walthamstow, E17, which had no reserve and sold for £70,000.
A single lock-up garage in Shepherds Bush, W12, went for £46,000 from a £30,000 guide price.
The top lot was a 17,698 sq ft site in Romford, Essex, currently let out as an MOT centre, with permission granted for two three-bedroom houses, nine two-bedroom flats and five one-bedroom flats, with no affordable housing element. Guided at £1.35m, it sold for £1.5m.
A freehold 6,844 sq ft former pub in Holloway, N7, with a rental income of £56,760 pa, sold for £1.2m, representing a 4.73% gross yield.
A freehold four-bedroom house in Balham, SW12, sold for £942,000 off a guide of £900,000.
A freehold site of 0.05 acres in Kingston-Upon-Thames, Surrey, with planning permission for five flats, sold for £850,000 off a £725,000 guide.
Several £1m-plus lots failed to sell, including a freehold vacant three-bedroom flat in Hampstead, NW3, which is available for £2.5m.
The sale was held on 21 September at the London Marriot Hotel, W1.
