Savills raised the highest amount in its auction department’s history at its sale on 19 July, with the hammer coming down on some £78m of investment.
A total of 127 lots sold, with 11 selling for more than £1m and a further 39 for more than £500,000.
The bumper auction also included the second largest lot ever sold under the hammer: an eight-block investment comprising 112 flats in Bracknell, Berkshire, which went for £17.7m – more than double its guide price of £6m.
Savills said there was demand across all sectors at the auction, with asset management, development and yield-generating opportunities all selling well.
Notable sales included a detached former vicarage on a 0.6-acre plot in Tooting, SW17, which sold for £2.8m; a freehold house in Clapton, E5, which sold for almost £1.4m; and Bull Sand Fort, a sea fort off the coast of the Humber Estuary, which sold for £490,000
Robin Howeson, head of auctions at Savills, said the sale surpassed all expectations.
“Buyers were as enthusiastic as ever,” he said. “We found bidders were punchy about the lots they were after, and it was great to see a significant number of hotly contested lots.”
Savills’ next sale takes place on 1 September.
To send feedback, e-mail newsdesk@eg.co.uk or tweet @EGPropertyNews
