Andrews & Robertson

80% Heralds A Very Strong Start to 2015

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80% Heralds A Very Strong Start to 2015

Written By Michael Atwood | 19 February 2015

 

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AUCTION  REVIEW

 

 

 

 

80% Sale Heralds A Very Strong start to 2015

 

UK auctioneers Andrews & Robertson have raised over £13m from their first auction of 2015 held at The Hotel Russell, London, WC1, this week. A diverse portfolio of residential and commercial property helped post a strong 80% success rate from the sale of 52 lots, with an average lot size of £261,745.

The largest lot sold under the hammer was a substantial five bedroom house on Sisters Avenue, Battersea, SW11, within walking distance from Clapham Common guided at £950,000. The property sold for £1,255,000.

As ever, properties with development potential were popular. Four freehold railway arches within a gated site on Conyers Road in Streatham SW16, guided at £185,000, sold under the gavel for £216,000, and a freehold development site in Limehouse, E1 with planning permission for a single storey office exceeded its £60,000 guide price, selling for £95,000.

Speaking after the auction, Andrews & Robertson Chairman and Head of Auctions, Robin Cripp said: “We are delighted to start our 2015 auction calendar with a packed sale room and competitive bidding pushing prices well above guides. We had anticipated a little caution at this sale in the lead up to the general election in May but with £11.5m of the £13m raised at this sale coming from property within the M25, it is evident that the demand for London property in particular remains high.”

Significant sellers at the sale included Croydon Council, Southwark Council, London Borough of Wandsworth, Affinity Sutton, Ministry of Defence, Grainger Plc, Mountview Estates Plc, Colliers International and ES Group.

 

Other highlights of the sale included: 
 

 

135b Ledbury Road,
Notting Hill, W11:

Long leasehold, raised ground floor studio apartment with full vacant possession.
Guide £385,000, sold for £458,000

 

21 Chapter Road,
Walworth, SE17:

Freehold three floor four bedroom house
witth full vacant possession
Guide £595,000, sold for £720,000

 

 

 

 

 

21 and 25 Kidderminster Road,
Croydon, Surrey:

Two semi-detached houses
arranged with 8 flats in each both fully let
at £60,540 p.a. and £62,772p.a.
Each guided at £580,000, sold for £635,000
and £650,000, respectively.

 

Granby Place, 1-3 High Street,
Northfleet, Kent:

Pair of double-fronted, inter-connecting buildings previously used as a care home

and a surgery with full vacant possession
Guided at £380,000, sold for £515,000

 

 

 

Andrews & Robertson’s next auction will be held on Monday 20th April 2015 at The Hotel Russell, London WC1B and entries are now invited.

If you are considering selling a residential or commercial property then our dedicated auction team would be delighted to discuss the best strategy for you with no obligation. For further information or for an appraisal of your property’s suitability for auction please contact 020 7703 4401 or email auctions@a-r.co.uk This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

 

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