Savills raises £52m in latest auction round
Savills has raised more than £52m at its latest auction, burning its total raised from July sales to £80m.
More than 300 lots were offered at the sale, with 74% selling, including eight lots at more than £1m.
The sale was the first following the general election and demonstrated continued client demand for residential, commercial and development assets, as well as a renewed demand for family houses in London and the South East.
Savills has raised more than £52m at its latest auction, burning its total raised from July sales to £80m.
More than 300 lots were offered at the sale, with 74% selling, including eight lots at more than £1m.
The sale was the first following the general election and demonstrated continued client demand for residential, commercial and development assets, as well as a renewed demand for family houses in London and the South East.
Highlights included a split-level, three-bedroom flat in Marylebone, W1, which sold for just over £2.1m, and a number of lots in south-east London.
In Peckham, a substantial Grade II listed semi-detached home requiring modernisation sold for £1.6m – some £300,000 more than its guide. In East Dulwich, a four-bedroom semi-detached house (pictured) sold for £1m.
Commercial lots included the Blackpool Waste Transfer Station, which sold for £2.3m. Let to one of the UK’s largest waste management businesses, the asset provides an annual income of £178,000.
Head of Savills Auctions Robin Howeson said: “With the election behind us, there was certainly a renewed sense of confidence as we entered our second sale of the month.
“We have already started to see some strong demand from clients looking to sell in both September auctions – an early indicator that we should see a strong end to the year, regardless of when we see first downward movement of the base rate happens.”
Savills’ next auction takes place on 3 September.
Image © Savills
