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The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Auction Report

Despite the stormy weather conditions and a delayed start time, the recent October residential auction by Savills on Monday 28th October at the Marriot Hotel London W1 saw £45m worth of property sold in just one day, with an average success rate of 88%, eclipsing the October 2012 total of £32m. On the day of the auction 148 lots were sold in the room, while 11 lots were sold prior.

Head of auctions at Savills, Chris Coleman-Smith said: "This has been our most successful October auction ever and it proves that people will flock to the room for good properties in good locations even though the poor weather meant early travelling conditions were quite difficult for many."

There were a considerable number of 'premium' lots amongst the 182 offered for sale on the day including nine in Fulham, a location which according to Chris "always proves very popular in London auction rooms."

A fair number of the lots at this auction generated considerable competition with the room remaining full for the majority of what was a long day, while several lots sold for over £1m.

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