Savills generated more than £41m of sales at its latest property auction, with buyers continuing to compete for residential redevelopment opportunities and income-producing commercial assets despite wider market and political uncertainty.
The two-day auction saw 139 lots sold, delivering a success rate of 68%. Commercial assets accounted for 28% of the total sales value.
The highest-priced lot was a freehold block of 12 one-bedroom flats in Hampton Wick, which sold for £3.235m – £435,000 above its guide price.
Elsewhere, a freehold redevelopment site in Hammersmith achieved £935,000, while an eight-bedroom detached house in Essex was sold before the auction for just under its £1.3m guide price.
Commercial sales included a shopping centre and office investment in Worthing, which sold for £1.62m, and a Grade II-listed former hall and lecture house at the Royal Military Academy in Woolwich sold for £415,000.
Gary Murphy, director of Savills Auctions, said: “Despite renewed political uncertainty following recent events at No. 10 Downing Street, the auction market continues to demonstrate its resilience.
“The strongest interest at our latest auction was focused on assets offering clear opportunities to add value, reflected in competitive bidding for lots such as the Hampton Wick apartment block, which sold £435,000 above guide, and the redevelopment site in Hammersmith.
“We also saw significant interest in income-producing commercial investments, highlighting the continued appeal of assets capable of delivering secure returns.”
Murphy added: “Overall, the sale demonstrated the breadth of demand across both residential and commercial sectors, with buyers continuing to act decisively when quality opportunities are brought to market.”
