Savills raised more than £30m and achieved an 81% success rate from the sale of 130 lots at its August auction.
The leading sale of the day was a two-bedroom ground and lower ground flat in Pimlico (pictured), which sold for £725,000 – £250,00 more than its guide price.
A two-bedroom mid-terrace property in Bethnal Green, benefiting from a rear garden and presenting an opportunity for refurbishment, achieved £617,000 following competitive bidding, and in Mill Hill, a four-bedroom semi-detached house with off-street parking and a large rear garden, sold for £635,000.
Commercial highlights included a 97.8-acre former golf club in Edenbridge, situated adjacent to a recently consented development site, which sold prior to the auction close to its £775,000 guide, and a mixed-use freehold investment in Alton town centre, comprising a convenience store and two three-bedroom maisonettes, sold prior to the auction close to its £850,000 guide.
Jeremy Lamb, director at Savills auctions, said: “The strength of buyer demand was clear to see throughout August, with bidders remaining active despite the summer holiday period. Both owner-occupiers and investors continue to seek opportunities where value is evident or can be created through asset management and improvement. Against a backdrop of wider market uncertainty, the auction route continues to offer buyers and sellers a clear, transparent process and the certainty of fixed timescales, making it an increasingly attractive option for transacting property.
“Looking ahead, we expect activity across both the residential and commercial markets to strengthen as we move into September. The catalogue for our next auction on 2 September is now live and we continue to welcome instructions ahead of our 15 September.”
