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Strettons’ spring auction raised a healthy £8¼m.

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Our Spring auction on the 27th showed mixed results but still raised a healthy £8¼m.

We saw good demand for the traditional auction stock, including three vacant flats in Clapton E5 for improvement sold on behalf of Newlon Housing Trust for £880,000 against a guide of £865,000-£875,000 and a vacant house in Stepney Green E1 which sold for £822,500 against a guide of £700,000+.

Highest value lot of the day was £1.9m for a house in Dartmouth Park NW5 sold on behalf of a housing association, closely followed by a restaurant with development potential in Walton-on-Thames which sold for £1.35m.

Other sales included two flats in Forest Gate E7 producing £28,800 per annum sold on behalf of a charity for £535,000, showing a 5.4% initial gross return; and a small vacant flat in fashionable Stoke Newington which sold for £355,000 off a guide of £300,000+.

A freehold commercial ground rent in Leyton E10 producing £14,290 pa sold for £364,000, equivalent to just under 4% initial gross yield and, of a more unusual nature, four garages with consent to develop a 2-bed subterranean house sold for £251,500; 19.5 acres of woodland and lakes in Surrey which sold for £185,000 an acre and two partially built houses in Scunthorpe which sold for £100,000.

 

Lot 4

LOT 2 - 32A, 32B & 32C LEA BRIDGE ROAD, CLAPTON, E5 9QD

Lot 7

LOT 5 - 10 STEPNEY GREEN, STEPNEY GREEN, E1 3JU

Lot 30A5

LOT 30A - 28 CROFTDOWN ROAD, DARTMOUTH PARK, NW5 1EN

                     View Results

Although mixed results which perhaps set the scene for further nervousness as the broad economy faces pressures, we are confident that, as time has shown, the property market will be resilient and we invite lots for our next sale on 22nd May with the catalogue on-line 2nd May. 

 

For more information about our auctions or to register for upcoming auction emails, please email auctions@strettons.co.uk