Buyers Spring to action at March sale
Our 27th March auction brought a good turnout of bidders with brisk competition to produce an 88% success rate.
Despite being on the exit from the EU, the first anniversary of the 3% stamp duty penalty on second homes and new Buy-to-Let tax changes from April 2017, residential gross yields were at a little under 4.5% and, average commercial yields, 4.7%. View the full results here.
Highlights included first lot of the day, a vacant house in Chingford E4, by order of the Court of Protection sold for £464,500 against a guide of £435,000-£440,000.
A pair of vacant flats in Ilford, guided at £280,000-£290,000, realised £375,000 and a vacant leasehold maisonette in Purley, Surrey guided at £185,000+ sold for £331,000.
Two garage workshops in Leytonstone E11, both let at circa £200 per week, sold for £209,500 and £159,000 respectively with a long leasehold commercial unit and vacant flat in Leytonstone selling for £275,000.
A freehold vacant shop in Walthamstow E17 with a rear store and a flat above producing £8,400 pa sold for £450,000 and a terrace of freehold lock-up garages in Southgate N14 achieved £200,000 against a guide of £100,000-£120,000.
As usual, there was good bidding for freehold ground rents with one in Highgate Village N6 achieving £150,000 against a £100,000 guide.
You can visit the full results of our March auction here.
Our next sale is on 22nd May, almost 80 years to the day since our first auction in 1937. The catalogue will be on-line 3rd May.