News | Residential Auction

Allsop achieves 20% increase in sales at May’s residential auction

  • UK’s leading property auctioneer raises £38.7m on 127 lots at its May auction, with a success rate of 83%
  • May’s result marks a 20% increase on year-on-year sales
  • A three-bedroom apartment in Maida Vale, purchased for £1.28m was the highest value lot to sell on the day

Allsop’s third online residential auction of the year resulted in the sale of 127 lots, raising £38.7m. The auction saw a total of 3,963 online bids placed during the day, with 1,145 bidder registrations.

Richard Adamson, partner and auctioneer at Allsop, said: “The residential market has shown a robust performance over the past 14 months, despite protracted economic uncertainty. Investors are still drawn to UK property thanks to its ability to deliver long-term returns and offer value-add opportunities.

“The extension of the Stamp Duty holiday has been an important factor in helping to ensure sustained demand. This has been aided by the gradual easing of lockdown restrictions and the successful rollout of the UK vaccination programme. We look forward to releasing our June catalogue with plenty more attractive investment opportunities across the country.”

 

Auction highlights included:

Lot 54 – Lauderdale Mansions, Maida Vale – a three-bedroom leasehold apartment with a roof terrace. Guided at £1m, this lot was sold for £1.28m

Lot 29 – a freehold Grade II listed building in Paddington with a rear courtyard, sold for £1.1m

Lot 92 – two mixed-use freehold buildings comprising two retail units, four self-contained flats and one office unit in Horley, Surrey, with redevelopment potential, sold for £791,000

Lot 73 – Kinmel Hall, a Grade I listed mansion in Abergele, Wales, modelled on the Palace of Versailles, featuring 122 rooms and extensive gardens. The 80,000 sq ft property was sold for £950,000, in excess of the guide price (£750,000)

Allsop’s next residential auction will be held online on 24 June 2021.


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