Savills raised more than £36m from the sale of 149 lots at its August auction, reflecting a success rate of 81%.
The standout lot was a riverside apartment in Battersea, which achieved a hammer price of £1.33m (pictured). Savills also sold a freehold development site in Bury St Edmunds with planning consent for 15 contemporary townhouses for £1.010m – more than double its original guide price of £500,000.
Commercial assets proved popular, with a retail unit forming part of a parade in Reading, let to Peacocks for £90,000 per annum, selling prior to the auction for considerably above its guide of £650,000.
In Newport, a 2.5-acre freehold development site offered with vacant possession sold under the hammer for £425,000 – 136% more than its guide price – and in Liskeard, Cornwall, a freehold property comprising a ground floor retail unit, basement store and office space on the upper floors, sold prior to the auction.
Gary Murphy, from Savills Auctions, said: “After a busy summer, our additional August auction generated over £36m – a clear reflection of the continued strength of our mixed catalogues and the popularity of live-streamed sales. Buyer confidence is gradually building, though pricing remains critical across both residential and commercial lots. Strongest demand came from lower-value properties in prime regional towns and cities, while a handful of larger development opportunities achieved in excess of £1m, showing that buyers are prepared to invest further where there is clear potential to add value.”
