McHugh auction raises £15.3m

McHugh & Co raised £15.3m at its 3 October auction thanks to several London residential lots exceeding their guide prices.

The London auction house sold 45 - or 85% - of the 53 lots in the catalogue, more than at the equivalent auction in 2016 when 39 - 72% - of the 54 lots on offer were sold. However, that sale raised a higher total of £16.4m.

This October’s highlights included the long leasehold on a ground-floor flat in Hampstead, north London, which sold for £821,000 from a guide price of £700,000-plus. The lease on the property expires in 2055.

A five-bedroom house in Whetstone, north London, had a guide price of £1m and was sold prior to the auction for £1.1m, making it the only lot to sell for more than £1m.

In addition, a showroom and office in Muswell Hill, north London, which had planning permission for conversion to residential sold for £600,000 - 62.5% more than its guide price of £375,000.

McHugh & Co’s next sale will be held on 6 December at The Montcalm Hotel in London.

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