Andrews & Robertson raised £5.4m from its latest auction, achieving a 72% success rate.
The most sought-after property at the sale on 18 July was a mixed-use freehold terraced building, comprising a shop with a self-contained flat above, in East Dulwich, SE22. The property has planning permission for change of use of the shop to a two-bedroom flat. The property sold for £505,000 off a guide price of £390,000.
There was also strong interest in a freehold four-storey end-of-terrace house in Streatham, SW16, guided at £400,000. From an opening bid of £350,000, the property sold for £415,000.
However, the sale was Andrews & Robertson’s smallest this year and was sharply down on its July sale last year, which raised £10.6m from a 74% success rate.
Senior auctioneer Robin Cripp said: “We are seeing continued traction in the market, having reached a 72% success rate, as considered buyers react to well-priced lots. London properties have been very attractive to bidders and we are also seeing appetite for a variety of lots across the UK.
“The properties that sold attracted a lot of competitive bidding. There has also been interest in unsold lots and we hope to conclude further sales over the next few days.”
Other highlights of the sale at the Montcalm Hotel, Marble Arch, W1, included:
- A long-leasehold maisonette in Battersea, SW11, which sold for £494,000 off a guide price of £460,000.
- A leasehold maisonette in Thornton Heath, Surrey, which sold for £145,00 off a guide price of £100,000.
- A leasehold first-floor self-contained flat in Brockley, SE4, which sold for £287,000 off a guide price of £260,000.
- Two freehold garages with adjoining land and a car parking space in Catford, SE6. The property has development potential, subject to planning, and sold for £107,000 off a guide of £35,000.
Andrews & Robertson’s next auction will be held on 20 September.
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