A WINCHESTER city centre bank building has exceeded its auction guide price.

The Santander Bank at number 21 went under the hammer for £1.87 million in London, some £20,000 above the expected £1.8-1.85 million guide range.

CBRE Auctions declined to reveal who had bought the property. The likely purchaser is likely to be a London or even internationally-based pension or investment fund.

The Santander building currently attracts an annual rent of £125,000, a yield of 6.9 per cent.