Savills raised more than £30 million from its August property auction, achieving an 81% sale rate from 130 lots offered across residential and commercial sectors.
The auction’s highest-profile residential sale was a two-bedroom flat in Pimlico, which sold for £725,000, exceeding its guide price by £250,000. The ground and lower-ground floor property required renovation and attracted bidders seeking development potential.
Other residential sales included a two-bedroom terraced house in Bethnal Green at £617,000, a four-bedroom semi-detached house in Mill Hill at £635,000, and a three-bedroom flat in Battersea at £550,000. The Battersea property drew interest from both owner-occupiers and investors.
Commercial property sales
Commercial lots included a 97.8-acre former golf club in Edenbridge, which sold prior to the auction close to its £775,000 guide price, and a mixed-use freehold investment in Alton, Hampshire, which sold prior close to its £850,000 guide. A freehold car park in Aldershot with space for eight vehicles sold for £13,000 against a guide price of £1,000.
Jeremy Lamb, director at Savills Auctions, said: “The strength of buyer demand was clear to see throughout August, with bidders remaining active despite the summer holiday period. Both owner-occupiers and investors continue to seek opportunities where value is evident or can be created through asset management and improvement.”
The auction results suggest continued market activity despite the traditionally quieter summer period. Lamb indicated that Savills expected activity across the residential and commercial markets to strengthen in September, aligning with broader patterns in UK property sales following seasonal fluctuations.
The 81% sale rate indicates sustained buyer interest across multiple property types and price points, with investors continuing to target assets offering value-add opportunities through renovation and improvement.
