Savills raises £57m at September sale
Savills has raised £57m at its latest auction, selling 69% of lots on offer.
The auction on 24 and 25 September, brought the total value of assets sold across Savills’ auctions so far this year to £600m – a 51% increase year-on-year.
Leading the auction was a substantial freehold two-floor mixed-use investment opportunity in Southall, Middlesex, which sold for £3.3m. Comprising two shops, part let to Tesco at a rent of £60,000 per annum, along with two self-contained flats, the mixed-use lot achieved almost double its guide price.
Savills has raised £57m at its latest auction, selling 69% of lots on offer.
The auction on 24 and 25 September, brought the total value of assets sold across Savills’ auctions so far this year to £600m – a 51% increase year-on-year.
Leading the auction was a substantial freehold two-floor mixed-use investment opportunity in Southall, Middlesex, which sold for £3.3m. Comprising two shops, part let to Tesco at a rent of £60,000 per annum, along with two self-contained flats, the mixed-use lot achieved almost double its guide price.
A second freehold mixed-use investment in East Finchley, N2, comprising a ground-floor shop, offices and four flats producing £65,400 per annum sold for £770,000 more than its guide price of £1.4m.
In Battersea, SW11, a freehold rental unit with a showroom measuring 7,000 sq ft sold for £1.3m.
In Scotland, Sandside Harbour together with its buildings and 4.77 acres of coastline (pictured) achieved a hammer price of £82,000 – nearly double its guide price.
Auctioneer Steven Morish said: “Our late September sale brought the total amount raised this month to more than £115m – £25m more than we raised in September 2023. Throughout the two-day auction, there was a notable appetite for mixed-use lots, especially those currently let to reputable businesses and providing decent yields.”
Savills’ next auction takes place on 8 October.
Image © Savills
