Latest commercial property news from Lambert Smith Hampton

LSH auctions

LSH Auctions continues to outperform the market with an average sales rate of 92%


Lambert Smith Hampton (LSH) held its third national commercial property auction of 2015 on Monday 13 July at the Millennium Hotel, Grosvenor Square, Mayfair, London, W1K 2HP.

There were 41 lots on offer, of which 37 sold – a success rate of 91% which raised over £12 million.

Oliver Childs, Head of Auctions for Lambert Smith Hampton, comments: "The final week of marketing before the auction provided us with a clear signal that the sale was likely to be well attended. We didn’t anticipate such a busy room though! It is clear that the correctly priced stock that we are able to offer continues to attract a cross section of professional and entrepreneurial buyers as momentum in the commercial market continues. On average, properties sold for over 40% above the reserve price."

Key points: 

•Total raised £12,023,000
•41 lots offered, 37 lots sold
•Sale success rate 91%
•2015 success rate 92%

Lots of note:
Lot 2: O2 Academy, Westgate Road, Newcastle, NE1 1SW. Freehold city centre (music venue) ground rent investment property. Seller: Newcastle City Council. Reserve £645,000. Sold for £915,000.

Lot 7: Erith Snooker Club, 5 Pier Road, Bexley, DA8 1TA. Virtual freehold established snooker hall. Reserve£200,000. Sold for £305,000.

Lot 13: Former Aberdare Girls School, Cwmback Road, Brecon, CF44 0NF. Freehold school campus on 2.87 acre site. Seller: Rhondda Cynon Taf Council. Reserve £100,000. Sold for £415,000.

Lot 20: McQueen House, 79 Silver Street, Reading, RG1 2SU. Freehold detached commercial building with parking. Seller: Pension fund. Reserve: £415,000. Sold for £860,000.

Lot 36: Pendower Hall, West Road, Benwell, Newcastle upon Tyne, NE15 6PY. Freehold historic mansion house refurbishment project set in 3.4 acres. Reserve £400,000. Over 100 bids received. Sold for £816,000.

The client mix in the auction as a percentage of lots offered was as follows:

Banking/receivership/trustee/pension fund: 18%
Utility company: 7%
Public sector: 40%
Property company: 35%

About LSH Auctions:

We are a market leading auction team specialising in the sale of commercial and residential property by public auction.


 T: +44 (0) 207 198 2000

Next auction:

11:00 12th October 2051

To be held at Millennium Hotel, Grosvenor Square, London, W1K 2HP


For further information relating to this news article contact   or for press enquiries contact 

Contact us now

Oliver Childs
Head of Auctions

020 7198 2284

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