Allsop ended 2010 on a high note with a £45.7m residential auction selling 85% of all lots offered. The sale brings the residential sales total for the year to £335m and 88% from 2089 lots (2009 £330m and 87% from 2049 lots).
Held at London’s Cumberland Hotel, the sale started at 9.30 am and continued non stop through to an early evening session of ground rent investments finally closing at 8.00 pm.
Speaking after the sale, auctioneer Gary Murphy said
“In spite of the gloomy economic background, it’s encouraging to see that buyers of residential property are happy to turn out in large numbers to compete so aggressively. It’s all about pricing of course. Value for money is key to success today”.
“And competition wasn’t limited to the perceived safety of London and the south east. Regional lots drew some strong interest. None more so than 100 acres of grazing land on the fringe of Dunblane, Scotland. Guided at £300,000 to £500,000, after 20 minutes of tense bidding, it was knocked down for £1.11m”.
“It was also good to see owner occupiers bidding confidently. They are giving buy to let investors a run for their money. Lot 142, a large house in Herondale Avenue, Wandsworth, for example sold for £1.71m from a guide of £1.3 – £1.5m”.
This has been an excellent end to a very successful year for the team which, last month, was unanimously voted Residential Auctioneer of The Year 2010 by a panel of its peers.
Allsop is looking forward to change in 2011 as its Knightsbridge and Soho offices move to 33 Wigmore Street, W1U 1BZ and its new brand will be launched.
Highlights of the sale included:
Lot 12 – Land Fronting Christchurch Avenue, Wealdstone, Harrow, Middlesex HA3 5BD
BY ORDER OF THE LONDON BOROUGH OF HARROW
A freehold broadly triangular site extending to approximately 0.251 hectares (0.621 acres) with potential for C2 (care Home) or C3 (residential development)
Guide price: £1.4M – £1.5M
Lot 59 – 5 Sandwich Street, Bloomsbury, London WC1H 9PL
A freehold well located mid terrace five storey building arranged as two maisonettes, each maisonette subject to an Assured Shorthold Tenancy. Possible potential to convert into a single family dwelling subject to consents.
Guide Price: £1M – £1.1M
Lot 142 – 1 Herondale Avenue, Wandsworth Common, London SW18 3JN
BY ORDER OF AVIVA INVESTORS
Well located freehold semi-detached building arranged to provide two self-contained flats and one self-contained maisonette. Potential for conversion to provide a single family house, subject to all necessary consents being obtained.
Guide Price: £1.3M – £1.5M
Lot 194A – Site at Epworth Street, Liverpool, Merseyside L6 1LY
BY ORDER OF GEOFFREY ROWLEY AND NICHOLAS O’REILLY OF FRP ADVISORY ACTING AS JOINT ADMINISTRATORS OF MOSS STREET DEVELOPMENT CO LIMITED (IN ADMINISTRATION)
Freehold partially completed block comprising twenty two self-contained flats and eight covered car parking spaces.
Guide Price: £450,000 – £550,000
Lot 220A – Land to the West & South-West of Dunblane, Dunblane, Scotland FK15
BY ORDER OF AVIVA INVESTORS
Situated on the edge of existing housing with possible development potential subject to consents. A Total of 40.28 Hectares (99.53 Acres)
Guide Price: £300,000 – £500,000
Lot 247 – ‘Birkdale Court’, 207-209 Tarbock Road, Huyton, Liverpool, Merseyside L36 0SA
ON THE INSTRUCTIONS OF J GERSHINSON FRICS AND A PACKMAN MRICS OF ALLSOP LLP ACTING AS JOINT FIXED CHARGE RECEIVERS
Freehold building arranged to provide twenty one self-contained flats. Nine flats subject to Assured Shorthold Tenancies. Eight flats subject to company letting agreements. Two flats vacant.
Guide Price: £1M+
Allsop’s next Residential Sale will be held on 15th (provisional date) and 17th February at The Cumberland Hotel, London W1. Entries are now invited. Deadline 21st January.
For full details of results and unsold lots click here
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
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