Allsop raises £47 million in May residential auction

Allsop, the leading property consultancy and the UK’s largest property auction house, raised £47m at its latest residential auction, achieving a success rate of 78%.

The highest-value lot sold under the hammer was a private gated development comprising eight freehold houses in Heanor, Derbyshire, which was acquired for £1.4m. The catalogue featured a wide range of residential and mixed-use investment and development opportunities across the UK.

Building on the momentum of its April auction, which raised £28m, the latest results highlight the continued strength of the residential auction market and sustained demand from investors.

Richard Adamson, managing partner and residential auctioneer at Allsop, said: “Following the success of our April auction, we’re pleased to have raised over £47m just a few weeks later, with a 78% success rate - well above the current industry average. The recent Bank of England interest rate cut provided the market with a much-need confidence boost, translating into a notable increase in enquiries, website traffic, and ultimately, bidder activity.

“As has been the case for some time, demand for income-producing investments and value-add opportunities remained strong and was a clear theme throughout the day. We look forward to holding our next residential auction on 25th and 26th June.”

Residential auction highlights include:

• Lot 100: Highbury, London - a freehold building with planning permission, sold for £1.19m from a guide price of £1.1 m+ 
• Lot 116: Harrow, Greater London - two well-located freehold interconnecting buildings, sold for £1m 
• Lot 154: Hull, Humberside - a freehold unbroken block of 24 self-contained flats, sold for £1.08m from a guide price of £980,000 
• Lot 163: Heanor, Derbyshire - eight freehold houses within a private gated development, sold for £1.4m from a guide price of £1.2m

Allsop’s next residential auction will take place on 25th and 26th June 2025 via livestream.