Allsop raises £68 million in September residential auction

Allsop raised £68 million at its two-day September residential auction, achieving a success rate of 78% with 180 lots sold.

The highest-value transaction was an unbroken freehold building internally arranged to provide 11 self-contained flats and basement (lot 11). The property has been in the same family ownership for over 100 years and sold for £8.15M.

Richard Adamson, managing partner and residential auctioneer at Allsop, said: “While some buyers are still taking a wait and see approach as we approach the much-anticipated Autumn statement, this auction result clearly shows there is significant appetite for well-priced investment and development opportunities. In particular, there has been a noticeable flight to quality in terms of demand from buyers. Despite operating in one the most challenging markets in recent years, this auction raised an impressive £68 million.”

“We are still taking instructions for our October sale, the catalogue for which is due to be released next week.”

Highlights from the auction include:

• Lot 43: Waltham Cross, Hertfordshire – a freehold detached three-storey building providing eight self-contained flats producing £96,063 p.a sold for £1,400,000
• Lot 144: Camden, London – A freehold mid terrace building providing eight-bedroom accommodation, sold for £1,620,000
• Lot 244: Hethersett, Norwich – A freehold site extending to approximately 19.5 acres with development potential, which sold for £1,750,00

Allsop’s next residential auction will be livestreamed and take place on 22nd and 23rd October.