October Catalogue Highlights Pendulum Swing from Quantity to Quality in Residential Auction Stock (13/10/2009)

Allsop is pleased to announce the release of its October Residential catalogue.

Allsop is pleased to announce the release of its October Residential catalogue. This important sale comprises 288 lots and will be held over a single day on 29th October at The Cumberland Hotel, Great Cumberland Place, London W1.

Whereas towards the end of last year our residential catalogues were typically up to 80% distressed, over recent sales there has been a notable reduction in the number of domestic repossessions offered under the hammer.

The October auction, however, is characterised by a significant proportion of higher value lots, many in good locations and income producing. As always, we have worked hard to ensure that the lots selected for our sales are sensibly priced and that sellers are fully motivated.

Gary Murphy, Partner and Auctioneer comments “This sale highlights an interesting pendulum swing from quantity to quality. We are of the view that recovery is now underway. With banks indicating a welcome return to more active, albeit more prudent, lending and, with sustained strength of demand at successive auction sales, buyers today are increasingly likely to enjoy capital gains by 2010.”

Highlights include:

Lot 24 - REDESDALE STREET, CHELSEA, LONDON SW3
•  Freehold Mid Terrace Building
•  2 x One Bed and One x 2 Bed Flats
•  Subject to 2 ASTs and One AT
•  Producing £62,868 pa
•  Consent for Rear Extension
•  Guide Price £1.7m - £1.8m

Lots 30-35 - VIEWPOINT, HIGHBURY GROVE, LONDON N5
•  By Order of The Administrator
•  6 Leasehold Apartments
•  Each subject to an AST
•  Producing in total £128,440 pa
•  Total Guide Prices £2.31m - £2.455m

Lot 78 - FAIRHOLME ROAD, WEST KENSINGTON, LONDON W14
•  Freehold Mid Terrace Building
•  Licensed HMO
•  12 Self-Contained Studios
•  Each subject to an AST
•  Producing £141,440 pa
•  Guide Price £1.6m+

Lot 11 - 5/7 THE CHINE, WINCHMORE HILL, LONDON N21
•  By Order of The Quercus Healthcare Property Partnership
•  2 Connecting Freehold Buildings
•  C2 (Care Home) Use
•  Potential to Restore to 2 Houses (subject to consents)
•  Vacant Possession
•  Guide Price £750,000-£800,000

Notes to Editor

Allsop is the UK’s No.1 property auction house for both residential and commercial property.
Clients represented at this auction include:

Abbeyfield Society, Department of Health, Eddisons Commercial Limited, Halifax plc, Hexagon Housing Association, L&Q, Mountview Estates plc, Metropolitan Housing Trust, One Housing Group, Peabody, Quercus Healthcare Property Partnership, Riverside, Southern Housing Group, The London Borough of Hillingdon, The London Borough of Lambeth, The London Borough of Southwark, Transport for London, Two Major Housing Associations and Yarlington Homes Ltd.

ONE DAY SALE (Lots 1 - 277)
Thursday, 29th October 2009
The Cumberland Hotel, Great Cumberland Place, London W1H 7DL
Auctioneer's announcements 9.45 a.m.
Lot 1 to be offered at 10.00 a.m. precisely

Please click here to view the online catalogue.

For further information please contact:

Gary Murphy
Equity Partner
Allsop
DL  +44 (0)20 7344 2619
Email gary.murphy@allsop.co.uk