Savills raised £30m at its latest auction which saw 180 lots offered for sale. The success rate was 70%.
Among the most popular lots was an investment/development opportunity in East Finchley (pictured), which sold for £1.130m. The site comprises a four floor corner building with a retail unit across the ground and basement and residential accommodation over the first and second floors.
A retail investment opportunity in Truro town centre, which generates annual rent of £64,500, sold for £699,000 and a former care home in South Ockendon, Essex, sold for £636,000.
Nicholson Boyd, director in the auctions team at Savills, said: “While there was some hesitancy among bidders, others were keen to transact ahead of the general election and we had some good success for development and investment opportunities in or close to the capital. What we saw in the auction room chimes with Savills Q2 index released earlier this week, noting a degree of caution in the market as a result of the general election with some buyers looking to wait-and-see how the next few weeks unfold before making any plans.
“Later this month we will be holding our largest ever auction with over 300 lots due to go under the hammer, and with the election then behind us, we anticipate seeing good interest and activity. Instructions are still being taken and the catalogue is due to be published next week.”
Savills has generated sales of more than £430m at auction so far this year – a 60% uplift compared with 2023.
