Highlights of our London Property Auction on 12th May 2016
Success Rate: 93.33% - only 3 lots unsold
Total Raised: £16,981,500
4 Lots located in London offered on behalf of Executors all sold well including the largest lot of the Auction - Mountfield Court, West Heath Road, Hampstead, a Freehold house arranged as 3 flats, which sold for £2,850,000 from a guide of £2,400,000.
Auctioneer John Barnett had advised the family for over 50 years and was thrilled to have been instructed to handle the sale and by far the most popular Lot was a vacant mews house, also in West Heath Road, Hampstead which sold for £1,045,000 off a guide of £500,000, over double the Reserve. In excess of 100 applicants registered for the Legal Pack for this Lot in advance of the auction.
At one stage the lights went out and John immediately quipped that “this would not affect him as he had been auctioneering before electricity was invented”.
A 1 bedroom flat in Finchley Road, Hampstead sold for £411,000 from a guide of £325,000. Selling on behalf of LPA Receivers we achieved a price in excess of any private treaty offer our clients had received prior to bringing the flat to auction.
Auctioneer Jonathan Ross commented:
“Another packed house with investors battling on virtually every lot.
The response to this brochure was electrifying from the start and there was a notable increase in demand for commercial lots nationwide especially from investors switching from residential to commercial property who are looking for better yields.
Sensible reserve prices were far exceeded on the day much to the delight of our vendors.”
Our next sale is Wednesday 13th July 2016 - to enter your commercial and residential properties, please call the Auction Team on 020 8492 9449 or click here for a Free Auction Appraisal.