Allsop raised a total of over £52m at its July residential auction as investors sought good quality and value for money amidst political uncertainty.
The auction room remained buoyant, albeit, investors were highly selective, with lots sensitively priced and offering the best value among the most popular.
This included a strong performance of lots in Northern Ireland, Liverpool and Leeds, which outstripped lots across the rest of the country.
The best performing region, Northern Ireland achieved a 91% success rate, compared to the July auction average of 73%. This included the sale of lot 334, a 10-acre development site in Belfast, selling for £1.3m.
Elsewhere, lot 214a, a detached six-bedroom home in Cheshire with an indoor swimming pool sauna, gym and Jacuzzi sold for £1.8m. Lot 318 in Leeds, a four bedroom, end of terrace house sold for £140,000 – more than twice the guide price. In Liverpool, lot 173, a purpose build two bedroom, sixth floor flat sold for £132,500.
In the South of the country investors were attracted to high value and good quality. Lot 227, a manor house in Dorset with twelve bedrooms and an estate that includes stables, an aircraft hangar and tennis court surrounded by over 34 acres sold at £1.43m. Lot 106 an office building in Stevenage with Permitted Development rights granted for 21 flats, sold at £1.805m.
Richard Adamson, Partner at Allsop, commented: “Lots in the regions, particularly Northern Ireland and the North stormed ahead of their South-East counterparts as investors turned out in high numbers to purchase stock offering the more competitive yields and more affordable capital values.
“Despite political uncertainty, there was good appetite in the room with sensitively priced properties performing the best.”
At a glance
|Property Type||Yields||Average Lot Size|
|Ground Rents (80 yrs+)||3.27%||£64k|
|Property Type||Average Lot Size for Single Vacant Units|
|Within the M25||£388k|
|UK excluding M25||£191k|
The full results can be viewed on our website.
Allsop’s next residential sale will be held on Thursday 14th September 2017 at the Cumberland Hotel, Great Cumberland Place, London W1. Entries are now invited.
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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