Bumper ballroom results for Auction House London
A five bedroom bungalow only accessible by boat and a London flat which sold for double its guide price are just two of the 72 lots which sold in a record sale for Auction House London this month (Thursday 4 June 2015).
Hundreds of people packed the impressive ballroom of The Landmark Hotel in Marylebone Road, London. The venue was moved at the last minute from another room in the building in order to accommodate the high numbers of bidders attending the sale, which had a 90% success rate and which raised just short of £18m (£17,989,550).
Auction House London Managing Director and auctioneer, Andrew Binstock said, “Auctions are the barometer of the property market and having smashed another of our records in terms of the number of lots sold it was a very encouraging day. It was a busy and lively auction with every lot seeing strong bidding. While other auctioneers have been struggling, our combination of correct pricing and successful marketing is clearly bringing results.”
The sale saw a number of highlights, including a one bedroom ground floor flat in the up and coming area of Plumstead, London. The property in Plumstead Common Road started with a guide price of £75,000 and sold for almost double that at £148,500. In Langford, near Maldon in Essex a five bedroom bungalow in two acres which can only be reached by boat, sold for a staggering £300,000 from a guide price of £225,000. Included in the sale of Beeleigh Willows was a dinghy and a punt!
Andrew Binstock added, “There is a real hunger for our properties at the moment and that is translating to some fierce bidding in an extremely positive atmosphere in the auction room.”