Allsop raises £55 million in June residential auction

Allsop, a leading property consultancy and the UK’s leading property auction house, raised £55 million at its two-day June residential auction, achieving a success rate of 78% with 206 lots sold.

The highest-value transaction of the auction was a freehold block of 18 self-contained flats that are fully vacant. With a guide price of £1.6m the property sold for £4,350,000 with fierce bidding from nearly 40 parties.

The success of the June auction means that Allsop has raised £243m in its residential auctions and a total of £403m across both residential and commercial sales.

Richard Adamson, managing partner and residential auctioneer at Allsop, said: “Following the success of our May sale a few weeks ago, we are delighted with the result of our two day June auction which has so far raised £55m with a success rate of nearly 80%. The sale featured a number of very high quality lots being sold on behalf of a variety of sellers including receivers, administrators, housing associations, councils and property companies. The market is still very challenging, but buyer confidence seems to be slowly but surely improving. We are currently preparing our July auction catalogue which is already promising to be another significant catalogue filled with compelling investment opportunities.”

Residential auction highlights include:

·       Lot 19: Seven Sisters, London - A freehold block of 18 self-contained flats fully vacant. With a guide price of £1.6m the property sold for £4,350,000

·       Lot 234: London Derry House, Birmingham - Leasehold student accommodation block providing 175 units, with expired planning. Acting in conjunction with our specialist student private treaty team the property sold for £1,020,000 from a guide of £200,000 plus.

·       Lot 296: Ramsbottom, Bury - A substantial freehold detached grade II listed manor house previously sued as a learning centre om a 7-acre site being sold on behalf of bury council. Guided at £700,000+, the property finally sold for £1,575,000 after some very competitive bidding from 12 parties.

Allsop’s next residential auction will be livestreamed and take place on 31^st July 2025.