Allsop raises £47m in May residential auction

Allsop, a leading property consultancy and the UK’s largest property auction house, raised £47 million from the sale of 155 lots (representing a success rate of 86%) at its fifth residential auction of 2024.  

The highest value lot sold under the hammer was a freehold parade of six newbuild houses in Westcliff-on-Sea, Essex, which sold for £2,065,000 having been guided at £2 million plus.

The success of its May residential auction means that, over the past four weeks, Allsop’s specialist residential and commercial teams have collectively raised more than £137 million through the sale of residential, commercial and mixed-use lots across the country.

Richard Adamson, managing partner and residential auctioneer at Allsop, said: “We are delighted with yet another very strong auction result. This month’s sale is a very positive sign that the market is feeling more upbeat and confident. Whilst pricing remains very sensitive, there is clearly an increase in buyers returning to the market with more than twice the number of buyers registering to bid at our auction compared to the same time last year. We are in the process of putting together the lots for our next auction in June, which based on early indications looks likely to be a catalogue of high quality and volume.”

Residential auction highlights include:

• Lot 2: Maescoed Farm, Hereford – a freehold grade II listed farmhouse and outbuildings set in 40 acres of land, sold for £830,000 from a guide price of £400,000+
• Lot 10: Shirland Road, Maida Vale – a freehold mid terrace building comprising 6 bedsits and a ground floor commercial unit, sold for £950,000 from a guide price of £500,000+
• Lot 35: Watts Moses House, Sunderland – A freehold unbroken block of 43 self-contained flats, sold for £1,700,000 from a guide price of £1,100,000+
• Lot 147: Westcliff-on-Sea – a freehold parade of six new build houses, sold for £2,065,000 from a guide price of £2,000,000+

Allsop’s next residential auction will be livestreamed and take place on 19^th and 20^th June 2024.