Savills raised more than £45m from the sale of 143 lots at its 19 March auction.
The auction, which achieved a 78% success rate, saw strong bidding for high-yielding commercial and investment opportunities in addition to residential homes in Greater London.
Residential highlights included a Grade II listed mid-terrace family home, located on a sought-after garden square in Islington (pictured), which achieved a hammer price of £1.095m after a series of competitive bids.
On the commercial front, a freehold student investment opportunity comprising 40 en-suite bedrooms and fully let for the 2023/24 academic year, sold prior to the auction for near its guide price of £4.75m.
Robin Howeson, head of Savills auctions, said: “We’ve had a really successful start to the year, raising nearly £190m across the quarter, as our live-streamed mixed catalogues continue to attract and service the demand we’re seeing from both buyers and sellers.
“Our first three auctions of the year were largely driven by sellers looking to dispose of their assets before the end of the financial year, and so we expected to see some signs of the market slowing and a slight decrease in the number of properties for sale and buoyant buyers. And yet, yesterday’s sale continued to exceed our expectations with the sale of 143 lots and raising in excess of £45m – comparable to the other auctions we’ve held so far this year.
“Yesterday’s sale saw a notable increase in demand for high-yielding stock with asset management potential in both commercial and residential markets across the country. There was also a continued demand for flats and smaller houses in Greater London, particularly among owner occupiers and developers, who continue to invest in bricks and mortar as rates continue stabilise.”
Savills next auction will be held on 16 April.
