Strettons raised more than £11m at its March auction, reflecting a 72% success rate. The auction house said many of the properties sold for “significantly higher” than their guide price.
In Romford, a freehold commercial investment with development potential almost doubled its guide price of £300,000+, selling for £575,000. A freehold commercial investment plus ground rent in Walthamstow was bought for £169,000, slightly above its £150,000 guide price.
A freehold vacant house with development potential in Leyton, sold for £620,000 against a guide price of £500,000+ and also in Leyton, a freehold commercial and residential investment comprising a shop, basement and two self-contained flats sold for £735,000 against a guide piece of £675,000.
The highest priced property in the sale, a freehold retail and office building in Hatton Garden, London, which had a guide price of £1.95m (pictured), was sold prior to the auction for an undisclosed amount.
Andrew Brown, Strettons director and auctioneer, said: “I am pleased with the prices achieved for many of the properties on the day and also the higher than usual number of lots that were sold prior to the sale. We had many eager buyers looking to secure deals prior to the sale at prices that were good for our clients.”
Strettons’ next auction takes place on Tuesday 23 May.
