The first of Savills’ July auctions, held over two days, generated more than £41m from the sale of 139 lots and achieved a success rate of 68%, with commercial assets accounting for 28%.
Wick House, 10 Station Road, Hampton Wick, London KT1 4HF
The standout transaction was the sale of a freehold detached block of 12 one-bedroom flats in Hampton Wick, south-west London, which went under the hammer for £3.235m – £435,000 above its guide price. The apartment block has planning permission for an additional storey, offering the potential to build two two-bedroom flats.
Meanwhile, in Essex, an 8,114 sq ft eight-bedroom detached house with outbuildings, a swimming pool and extensive grounds sold prior to the auction for just shy of its £1.3m guide price.
Commercial highlights included a two-storey detached office building on a business park in Huntingdon, Cambridgeshire, which sold for £2.03m. Currently let to Bank of Ireland and DOVISTA, the property generates a total annual rental income of £263,560.
Finally, in Worthing, West Sussex, a town centre shopping parade, comprising around 20 ground-floor retail units with a six-storey office block and producing a total annual rental income of £740,862, sold for £1.62m.
Gary Murphy, a director in Savills’ auctions team, said: “Despite renewed political uncertainty following recent events at No 10 Downing Street, the auction market continues to demonstrate its resilience. These results reinforce the depth of demand for well-located residential opportunities where buyers can unlock future value.
“We also saw significant interest in income-producing commercial investments, highlighting the continued appeal of assets capable of delivering secure returns. 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.”
Savills’ next auction will be held on 28 July.
Please visit:
Our Sponsor