Andrews & Robertson achieves 73% success rate at late...

Auctioneer Andrews & Robertson has raised over £12.2 million from its latest auction earlier this week.

Held at The Montcalm Hotel in Marble Arch, London, the auction comprised residential and commercial properties and achieved a success rate of 73% from the sale of 40 lots, with an average lot size of £309,000.

Lot 9, a freehold vicarage located on Church Road, Richmond, quickly became the most sought-after property under the hammer, with a guide price of £1.6 million and an opening bid of £1.4 million. The property eventually sold for over £2.5 million.

Lot 3 also saw strong interest. The freehold two-floor detached vicarage on Thornhill Avenue, Plumstead, has planning consent to redevelop for residential and is comprised of five bedrooms, two reception rooms, kitchen, breakfast room and sufficient storage space. The property sold for £725,000 against a guide price of £525,000.

Other highlights of the sale included a freehold corner building arranged as a retail unit, two office suits and three flats on 13 Blackheath Village, Blackheath, and a freehold vacant shop and upper part offered with vacant possession. They sold for £1.1 million and £570,000 respectively.

Senior auctioneer at Andrews & Robertson, Robin Cripp, described the success of the auction as a ‘testament to the continued interest from buyers and appetite from bidders’.

“The catalogue saw high levels of demand for a variety of lots around the UK showing the sustained demand for well-priced properties,” he added.

“The auction has yielded positive results for our vendors and bidder alike, and we expect to see this trend continue throughout the year.”

Andrews & Robertson’s next auction will be held on Wednesday 18 July at the Montcalm Hotel, Marble Arch, London with invited entry.