Andrews & Robertson raised £10,163,500 at their second 2018 auction at The Montcalm Hotel, Marble Arch, London. A diverse portfolio helped post a 65 per cent success rate from 43 lots, with an average lot size of £250,631.
Lot 49, a freehold three floor terraced house in Chatham, Kent far exceeded the initial bid of £145,000. Bidding from a wide array of parties saw the house sell under the hammer for £176,500.
One of the most sought-after properties was Lot 11, a freehold three floor detached house in Granard Road, arranged as two self-contained flats being sold by order of the London Borough of Wandsworth. Guided at £1,000,000, the property sold for £1,360,000.
72 Avonley Road, New Cross, SE14 (pictured), a Freehold two floor end of terrace house within the Hatcham Park Conservation Area, with potential for extensions and a rear garden, was guided at £450,000 and sold for £525,000.
Robin Cripp, Senior Auctioneer at Andrews & Robertson, said, “The success of our second auction this year shows the strong appetite from buyers and healthy competition from bidders.
“The market is good when the price is right resulting in high bidding volumes and positive outcomes for our vendors. We’ve also seen a number of subsequent sales come through post-auction, and as demand remains strong we expect to see continued success over the course of 2018.”