News | Auction | Residential Auction
Allsop releases catalogue for three-day residential auction following pent-up supply over summer
- Allsop is gearing up for its largest residential auction in a decade with 505 lots on offer
- 21 lots have guide prices of >£1m, including a freehold Victorian mansion in Surrey, guided at £6.5m
- Allsop raised £47m in its August residential auction, bringing the total raised so far this year to £239m
Allsop, the property consultancy and the UK’s leading property auction house, has released its September residential auction catalogue. The catalogue offers 505 lots – 21 of which are guided at £1m or above – and the sale will be delivered over three days in a reflection of both the supply and demand that has built up over the summer.
The catalogue features a mixture of investment and development opportunities across the UK, including a freehold Victorian mansion set in 11 acres of grounds in Surrey, and a former health centre in East Sussex with development potential.
The first day of the auction will take place at The May Fair Hotel in London on the 21st September, while the following two days of the sale on the 27th and 28th September will be held remotely via livestream. Bidders from across the UK and internationally will be able to bid online and via telephone on all three days of the auction, while the first day will also invite bidders to the central London venue.
Allsop’s previous residential auction in August raised over £47m from the sale of 175 lots, yielding a success rate of 78%.
Richard Adamson, partner and auctioneer at Allsop, said: “While much of the residential property market has had a quiet summer, we continue to see a huge amount of activity and appetite from domestic and overseas investors. Following the success of our August auction, we’re delighted to release our sixth residential catalogue of the year – our largest since September 2010 – in a reflection of the supply that has built up elsewhere in the market.
“The volume of lots on offer at this auction reflects the unrivalled success of the auction as a means to quickly realise strong values for investors’ assets and to release liquidity, as well as Allsop’s track record on behalf of a wide range of buyers and sellers. Alongside the three-day nature of the auction, one day of which will be in-the-room and two will be live-streamed, we’ll be bringing fresh talent to the rostrum with David Evans wielding the gavel for the first time.”
Auction highlights include:
- Lot 40: a freehold Victorian mansion in Surrey, set in over 11 acres with multiple out-buildings, guided at £6.5m+
- Lot 58: a substantial freehold care home and site in Bexhill-on-Sea, East Sussex, with planning for conversion to provide 21 residential units, guided at £1.7m+
- Lot 196: a freehold site in Colchester, Essex, with planning for 119 one and two bedroom flats, guided at £3m+
- Lot 309: a former Post Office freehold building in St Austell, Cornwall, with planning for part conversion and part new build for 34 residential units, guided at £600,000+
Day 1 of Allsop’s next residential auction is taking place in-room at The May Fair Hotel (Stratton Street, London) on 21st September 2023. The catalogue can be viewed here.
Days 2 and 3 will be livestreamed on 27th and 28th September, with the lots for these days available online here.
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