Strettons achieves £8.3m total and 92% success rate at May auction

摘要

Strettons raised £8.3m at its auction this week, reflecting a 92% success rate. The London-based auction house sold 23 of the 25 lots available at its 27 May auction, which was held remotely via an online platform. The star lot of the day was a freehold investment on City Road in Shoreditch, east London. The property, which is arranged as two ground-floor retail units and four flats above, went under the hammer for £2.75m, reflecting a net initial yield of 7.9%. The lot, which is let and produces an annual rent of £232,320, was offered with a guide price of in excess of £1.45m. Meanwhile, in Walthamstow, east London, the freehold of an end-of-terrace building was snapped up for £1.2m. The three-storey property, which comprises a ground-floor double retail unit with upper-floor ancillary accommodation, has development potential. The lot iscurrently vacant and was offered with a guide price of Elm.