Allsop raises over £51m in February residential auction

• Allsop raises £51.3m at its latest residential auction
• 260 lots were sold representing a success rate of 85%
• 7 lots were sold for over £1m, including a semi-detached building in Shepherd’s Bush for £1.28m

Allsop, a leading property consultancy and the UK’s largest property auction house, raised £51.3 million from the sale of 260 lots (representing a success rate of 85%) at its second residential auction of 2024.  

The highest value lot sold under the hammer, a freehold semi-detached building in Shepherd’s Bush, sold after competitive bidding between a range of would-be buyers including owner-occupiers and developers for £1,275,000, having been guided at +£1 million. 

Richard Adamson, partner and residential auctioneer at Allsop, said: “Following the success of our January auction and a very strong result in our two-day February sale, we are seeing clear signs that buyers are starting to return to the market after a turbulent 2023. There is good demand for sensibly priced investments and developments across the nation, particularly mixed-use properties and value-add opportunities, however the key to success remains accurate pricing. We are currently taking instructions for our next auction on 26th and 27th March as we anticipate another large sale ahead.”

Residential auction highlights include:

• Lot 28: Barnsley, South Yorkshire – a freehold former care home extending to approximately 12,000 sq. ft occupying a site of 1.4 acres, sold for £760,000 from a guide price of £225,000+
• Lot 219: Hampstead Garden Suburb, London – a freehold shop unit with four bedroom maisonette above, sold for £787,500 from a guide price of £725,000+
• Lot 291: Hemel Hempstead, Hertfordshire – a former NHS office with planning for eight self-contained flats, sold for £700,000 from a guide price of £650,000+
• Lot 321: Shepherd’s Bush, London – a freehold semi-detached building extending to 2,164 sq. ft, sold for £1,275,000 from a guide price of £1m+

Allsop’s next residential auction will be livestreamed and take place on 26th & 27th March 2024.