Allsop’s upcoming residential auction will see 235 lots auctioned on 30 March at The Cumberland Hotel on Great Cumberland Place, London, W1H 7DL.
The catalogue, which is available online, includes a diverse mix of investment and development opportunities. Guided at £2.6m, Lot 58 in Cheshire is the highest valued lot in the catalogue and is one of six permitted development investments offered for sale. Currently occupied by a commercial tenants on short-term leases, it has permitted development rights for conversion to residential use, with the proposed accommodation to provide 32 self-contained flats.
Other permitted development investments include Lot 31 in Staines, Surrey – a mid-terrace office and retail unit (guide £295,000+) – and Lot 45, an office building in Watlington, Oxfordshire with permitted development granted for eight one and two-bed flats (guide £650,000+).
The auction will also see 12 lots in prime central London go under the hammer, including flats with short leases and properties with development potential. Formerly the home of Conservative MP Robert Lord Boothby who lived at number 1, Lot 9 is a self-contained fourth-floor flat at 1-4 Eaton Square in Belgravia. The lot has a guide price of £200,000 with a new 20-year lease available, subject to approval, following the expiry of the current term in 2018.
Richard Adamson, Partner, said: “There was a large turn-out at our first residential auction of 2017, with buyers undeterred by the changing economic and political landscape, and we expect to welcome similar crowds to this auction.
“Whilst there is the usual diverse offering in the catalogue, in particular there are some excellent lots in central London, as well as permitted development opportunities. We are seeing considerable appetite for permitted development sites, including regionally.
“We have also noticed increased interest from investors in the student market. Student accommodation has outperformed other asset classes in recent years, providing strong rental growth, so investments such as Lots 167, 162, 163 and 95 are likely to attract competitive bidding.
“Overall, there is high demand from buyers in the auction room – our challenge is making sure we have sufficient stock to meet this demand.”
Highlights from the catalogue include:
- Lot 8, 14 Westbourne Terrace, Paddington – an end-terrace unit comprising a self-contained lower ground floor unit and a self-contained ground floor unit within a Grade II listed building, with planning permission to provide a single two-bed property. Guide £800,000+
- Lot 21, Empire House, Knightsbridge – a third-floor flat situated within an attractive purpose-built mansion block. Guide £2.5M-2.6M
- Lot 39, 30 Queen’s Gate Gardens, South Kensington – a lower ground floor room with development potential. Guide reserve not to exceed £150,000
- Lot 40, 40 Palace Gardens Terrace, Kensington – flat roof area with airspace above first floor level and rear of building with potential development. Guide £25,000+
- Lots 55, 56 & 57, Edward’s Cottages, Islington – three new-build townhouses at the new Canonbury Cross development in Islington. Guide £1.4M+
- Lot 95, The Cliff, 48 Hamlet Road, Essex – an end of terrace corner building comprising an eight-bedroom house in multiple occupation (HMO) and lower ground and ground floor public house premises. Guide £675,000-700,000
- Lot 143, 10 Bathgate Road, Wimbledon – a detached house with 6 en-suite bedrooms, gym, spa, pool and cinema room. Guide £2.3M+
- Lot 167, Isaac Court, Lichfield Road, Aston, West Midlands – a house in multiple occupation (HMO) providing 24 student letting rooms. Guide £1M-1.1M
- 176, 5 Newlands Avenue, Hertfordshire – Detached property with garage and off-street parking, with planning permission for demolition of existing building and erection of two four-bed, semi-detached houses. Guide £1.8M+
- Lots 205 and 206, a farm house and barn with permission to convert into two houses. Guide £225,000+ and £160,000+ respectively
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.
For details visit www.allsop.co.uk
- Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date at which the guide price, or range of prices, is published.
- The reserve price is the minimum price at which the property can be sold.
- Both the guide price and the reserve price may be subject to change up to and including the day of the auction.
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