Barnard Marcus ends 2016 on a high

Barnard Marcus recorded one of its best success rates of the year six days before Christmas with 135 of 179 (76%) lots sold.

The auction raised £21.9m, with 99 lots selling in the room and 20 selling prior. In November, the firm raised £23.5m from 164 lots – a success rate of 74%.

Auctioneer Chris Glenn said: “The December sale shows there is confidence in the market and that Brexit and other uncertainties have been accepted,” he said.

The most expensive lot, a detached a former hostel with development potential in Leytonstone, E11, sold for £1m.

Eight plots of land in Hook, Hampshire, were all sold, but a site off the M3 motorway, also in Hook, went unsold. A further 20 plots at Newchapel in Lingfield, Surrey, all found buyers.

The sale took place at the Grand Connaught Rooms, WC2, on 19 December.