Highlights of our London Property Auction on 19th July 2017
Success Rate: 89%
Total Raised: £16,630,000
Highest price achieved was £2,360,000 for Lot 30: 357-359 Walworth Road, Elephant & Castle, London SE17 2AL – A Freehold Double Shop with 5 Flats above producing £127,640 per annum, generating a yield of 5.4%.
Another notable lot was Lot 36: The Boathouse, Embankment, Putney, London SW15 1LB sold for £1,820,000 – A Victorian Boathouse fronting the River Thames comprising a Marine Showroom and Architects Office producing £86,500 per annum (4.75% yield).
Whilst Lot 27: 430 Downham Way, Bromley, Kent BR1 5HR sold for £365,000 off a Reserve Below £225,000 – a very popular lot comprising a ground floor takeaway with a flat above producing £15,000 per annum (4.1% yield).
Jonathan Ross commented: "It was lovely to see another packed auction room and there was a clear appetite for commercial investments, especially within the M25, although we still experienced strong demand for local investments across the country, notably including a parade in Grimsby in North East Lincolnshire and a café in Liskeard in Cornwall."