Strettons raises £12.9m at July auction

Strettons has raised £12.9m at its latest auction, with a 74% success rate. The highest price of the day was achieved for Lot 16, a long leasehold three-bedroom flat in Hyde Park Place, Marylebone, which sold for just over £1m. The property, which was guided at £800,000, provides an annual income of £49,000. Properties with the potential to add value all performed well on the day, achieving prices significantly above guide. In Maidenhead, Berkshire, a freehold vacant house for modernisation on a significant plot sold for £555,000 off a guide of £400,000-plus. In Leyton, east London, a freehold vacant shop and rear mews building with planning permission for change of use to provide a 1×1-bed self-contained flat sold for £566,000 against a guide of £450,000-plus. Strettons director and auctioneer Andrew Brown said: “Overall it was a good sale, and I am pleased with the total amount raised. The prices achieved for many of the properties on the day shows the market is strong for particular properties at the moment, especially those with planning permission and development potential within popular areas of London and the Home Counties.” Strettons’ next auction takes place on 12 September.