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Festive flurry at Connaught Rooms

publication date: Feb 18, 2010
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identCompetitive bidding for realistically priced secondary commercial and vacant residential lots erupted at Andrews and Robertson’s final sale of 2009 driving totals to £14m. Private investor appetite for such stock seems to have returned with a vengeance at London’s Grand Connaught Rooms in December.

67 (64 per cent) of the 105 lots offered sold generating total proceeds of £14m, £1m more than in October when 76 per cent of 102 properties were transacted. Activity post sale was projected to push sales to £15m and 70 per cent within days.

Robin Cripp, Andrews and Robertson’s chief executive and auctioneer, said, “The lots averaged 26 per cent above guides. Most of the stock around London and Home Counties did very well.