Allsop achieves 95% success rate at first residential auction of 2024

Allsop, the leading property consultancy and the UK’s largest property auction house, raised over £13 million at its first residential auction of 2024, representing a success rate of 95%.  

The highest value lot – a freehold building in Doncaster comprising 35 self-contained flats – sold for £1.53m. Other lots on offer ranged from development sites to mixed-use, income-producing investments.

Allsop raised more than £885m from both residential and commercial auctions in 2023 across the course of 17 auctions.

Richard Adamson, partner and residential auctioneer at Allsop, said: “Having navigated a challenging 2023, we are thrilled with the results from our first residential auction of the year. With a success rate of 95%, it demonstrates that the depth of buyers for well-priced investments and developments is not only robust, but improving as long-term borrowing rates ease.”

Residential auction highlights include:

• Lot 8: Woodville Gardens, Ruislip – a freehold mid-terrace three-bedroom house, sold for £442,500 from a guide price of £350,000+
• Lot 20: Hilltop Lodge, Swadlincote – a freehold block providing a total of 40 letting rooms, sold for £860,000 from a guide price of £600,000+
• Lot 33: Rockingham House, Doncaster – a freehold building comprising 35 self-contained flats, sold for £1.53m
• Lot 54: Dorking – a freehold development opportunity with planning for a house and two flats, sold for £551,000 from a guide price of £525,000+

Allsop’s next residential auction will be livestreamed and take place on 14^th and 15^th February 2024