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Barnard Marcus auction raises £23m

Barnard Marcus raised £23m in its first sale after the summer break, with a success rate of 64%.

Of 238 lots offered, 152 were sold with 119 in the room and 33 prior to auction. The result was almost exactly the same as the result of the firm’s sale in September 2016, but slightly down on the auction in July this year, at which the firm raised £24.6m at a rate of 70%.

A large four-floor semi-detached house in Balham, SW12, with development potential in the garden was sold on behalf of Wandsworth council for nearly £1.2m.

A former NHS care facility in Finsbury Park, N4, was also purchased for almost £1.2m. The two-floor building has development potential subject to planning approval.

But a semi-detached house in Putney, SW15, with an adjoining site that has planning permission for a four- or five-bedroom house, went unsold with a guide of £1.2m.

A 30-bedroom hotel in Ventnor, Isle of Wight, with a guide of £750,000 was unsold. However, a hotel in Clacton-on-Sea, Essex, with 13 bedrooms was sold for an undisclosed amount prior to auction.

All but two of 19 studio flats in Maidstone, Kent, were bought for between £49,500 and £66,000 or for an undisclosed figure prior to the sale, off a guide of £55,000 each.

The sale was held at the Grand Connaught Rooms, London, WC2, on 11 September.

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