A&R sale tops £14m but success rate dips

Andrews & Robertson’s latest auction raised almost £14.5m, but recorded its lowest success rate this year at 68%. Of 70 lots offered, 47 sold, with 43 selling in the room. The highest-value lot, a freehold development site in Balham, SW12, with planning permission for a three-storey building with five self-contained flats, sold for £1.4m – £230,000 above its guide price. A three-floor detached office building with development potential in Carshalton, Surrey, guided at £500,000, sold for £1.1m. Chairman and principal auctioneer Robin Cripp said: “After the quieter summer months it is encouraging to see a busy September sale room. We continue to work hard to ensure a diverse mix of properties is offered to the room and that lots are keenly guided to generate interest and deliver sales.” The sale was held at the Montcalm Hotel, W1, on 19 September.