Savills has raised the highest amount in its auction department's history in 2023 with the hammer coming down on over £570m of property over the year.
2022 was a record year with £455m of property sold at auction and 2023 has exceed it by 25%.
On 13th December Savills Auctions held its final sale of the year which raised £34m from the sale of 125 properties - bringing the total value of property sold in 2023 to over £570m (up from £455min 2022) – a 25% increase and over £115m more than last year.
Residential highlights in London included a Grade II listed property in Chelsea arranged as three flats (Lot 37) which sold for £2,805,000 – 44% above its £1,950,000 guide price and a four-bedroom house in Kentish Town (Lot 193A) which sold prior to the sale (guide price £1,025,000).
Offering a slice of literary history, Shelley Cottage in Marlow (Lot 27), a Grade II Listed town house, formerly the home of Frankenstein author Mary Shelley sold above guide for £630,000.
Commercial highlights included a high yielding retail investment in Eastbourne (Lot 71) which sold for £446,000, 38% above guide, a mixed-use investment comprising three retail units and two flats in London’s South Norwood (Lot 70) which sold prior to the sale well in excess of its £450,000 guide price and a former Mecca Bingo Hall in Halifax, West Yorkshire (Lot 76) which sold for £256,000, significantly above its £150,000 guide.
New appointment
Kathryn Osland has joined the Savills Auctions team as negotiator. After graduating with a Law degree from Swansea university, Kathryn worked for a solicitor in residential conveyancing before moving into property management. Prior to joining Savills, Kathryn spent eight years at residential property investment company Quanta Group.
Kathryn is the fifth new member to join the team this year which has also included Gary Murphy, Director; Sam Harborne,Director; Max Mason,Associate Director and Steven Cane,Associate.
Robin Howeson, Head of Auctions at Savills at Savills says: “We’re thrilled to be announcing another record year following last year’s record. A £100m year-on-year increase over three years since 2021 is an astonishing achievement and we’ve also grown the team from 14 to 24 over the same period.
This year we’ve sold over 1,600 properties under the hammer – up 50% on 2022.These results are particularly remarkable given the headwinds faced over the last 12 months and are down to the incredible determination of the team who have risen to the challenge with enormous energy.
As we look ahead to 2024 we will continue to innovate with our live-streamed sales and cement our position as market leaders in mixed-use property auctions. As our team continues to grow I’m delighted to welcome Kathryn to the team this month who thoroughly enjoyed her first Savills auction yesterday”.
Savills next sale will take place on Wednesday 24th January 2024.