A new record price for a property sold in a UK auction room was set this week when Barnett Ross successfully sold Gwalior House in Southgate for £13,750,000.
The lot comprised three unbroken residential blocks including 54 flats and 25 garages, only three of which are currently vacant.
Gwalior House is a 1930s art deco block on Avenue Road. At the time it was built it was hailed as the only scheme of its type in North London, and the flats themselves as comfortable and ultra-modern. Today it generates an annual rental income of £471,546.
Barnett Ross specialises in the sale of nationwide commercial property and residential property in London, Middlesex and Hertfordshire with an average success rate of 87%.
Their next auction will be held on Thursday 17th July 2014 at the Radisson Blu Portman Hotel in London.
Story: Neil Bird
Photo: Barnett Ross
