Allsop raises £238m in auctions in first quarter following £55.8m March residential sale

Allsop, a leading property consultancy and the UK’s largest property auction house, has raised £55.8 million through the sale of 182 lots in its March residential auction, representing an 83% success rate, and begun preparations for its April sale.

The most popular, and highest value, lot sold under the hammer was lot 213 in Mill Hill NW7, an unmodernised detached house extending to 2,390 sq ft. The property generated intense interest ahead of the auction, with almost 100 registered to bid, before going on to sell for £1,850,000.

Allsop’s March residential auction contained a mix of investment and development opportunities across the country, from freehold mid-terrace homes in south London to a former care home with development potential in the Midlands.

The completion of Allsop’s third residential auction sale of the year brings the total Allsop has raised through residential and commercial auctions in Q1 2024 to surpass £238 million. The firm is now preparing for its fourth residential auction of the year later this month on 18 April,

Richard Adamson, partner and residential auctioneer, said: “Our third residential auction of 2024 continued to demonstrate the appeal of well-priced investment and development residential and mixed-use opportunities across the country. Having raised 25% more in terms of amount raised compared to the same period in 2023,  it represents an incredibly strong start to the year in a market in which most are finding it very challenging to transact.

“The success rate of 83% is significantly higher than the industry average, which is a testament to our team’s unrivalled knowledge, experience and expertise. With our next catalogue now released, featuring over 220 lots across the UK, we’re looking forward to maintaining momentum at our next auction on 18 April.”

Highlights from Allsop’s March residential auction include:

• Lot 41: Rugby, Warwickshire – A former care home with development potential, extending to 10,850 sq ft. Sold for £740,000.
• Lot 157: Boundaries Road, Balham, south London – a fixer-upper freehold mid terrace four-bedroom flat. Sold under the hammer for £1,230,000.
• Lot 171: Deptford Broadway, south London – a block nine self-contained flats and a retail unit producing £143,496 per annum. Sold under the hammer for £1,600,000 reflecting a GIY of 8.97%.

Allsop’s next residential auction will be livestreamed on the 18^th April. The catalogue can be viewed online here.