Auction house’s latest auction raises £18.1m, considerably lower than the £28.9m raised this time last year
- Barnard Marcus raised £10.8m less at its latest auction on 26 June than at its June 2017 sale.
- The auction house sold 133 lots from a 207-lot catalogue, raising £18.1m and reflecting a 65% success rate – compared with 146 or 69% of the 212 offered in June 2017, when it raised £28.9m.
- Some of the largest lots offered during the day did not sell.
- The largest, a site with redevelopment potential in Beckenham, Kent, had a guide price of £2m. The site, which has an area of 0.5 acres, previously had planning consent for a mixed-use retail and residential scheme. The last bid was £1.9m.
- Three development sites in Essex all exceeded their guide prices.
- A 0.5-acre former school site with planning permission for a residential development in Kelvedon, which has planning consent for four flats and four houses, was guided at £875,000 and eventually sold for £910,000.
- Another development site, at Cottage Place in Chelmsford, which has planning permission to build a four-floor building with 10 flats, sold for £684,000 from a £595,000 guide price.
- Finally, an end-of-terrace house in Ilford sold for £60,000 more than its guide price following competitive bidding. The property, which features three bedrooms and has a large garden, has planning permission for a side and rear extension that would create another two bedrooms and a living room. It was guided at £550,000 and sold for £610,000.
Barnard Marcus’s next auction will be held on 30 July at the Grand Connaught Rooms in London.