News | Auction | Residential Auction
Allsop wraps up 2023 with £880m in sales following £58m raised in December residential auction
- Allsop raises over £58m at its latest residential auction, bringing its total in residential and commercial auction sales to £880m in 2023
- 11 lots sold for over £1m, with the highest value asset bought for £1.75m
- This auction was the largest December sale in 8 years and yielded a success rate of 84%
Allsop, the leading property consultancy and the UK’s largest property auction house, raised over £58 million at its latest residential auction, its largest December auction since 2015.
With more than 390 lots on offer, the auction was delivered over two days via live stream and resulted in a success rate of 84%, with 11 lots having sold for more than £1m.
Coupled with its December commercial property auction, which raised £51.2m from the sale of 52 lots, it means Allsop raised more than £109m in December 2023 alone – and £880m in 2023 overall.
Richard Adamson, partner and residential auctioneer at Allsop, said: “The scale of our final sale of the year makes it our largest December auction since 2015, which is extraordinary when considering the economic and political turbulence experienced throughout the past 12 months. In the last year, we have raised over £445m in the residential sector, which is 20% up on last year.
“As a firm, our residential and commercial auction teams have raised £880m collectively over 16 auction sales in 2023, selling residential, commercial and mixed-use investments, development opportunities, and other assets. This points to the depth and liquidity that remains in the auction market – and, with interest rates having settled, highlights how investor confidence is returning to the market and is likely to continue to do so.”
Residential auction highlights include:
- Lot 7: Lewisham, London – a freehold building, internally arranged to provide seventeen ensuite letting rooms, sold for £1.2m
- Lot 34: Evelyn Gardens, South Kensington – leasehold self-contained third and fourth floor two-bedroom flat, sold for £1.55m
- Lot 74: Colney Heath, St Albans – freehold site with development potential, after bidding between 10 parties sold for £1.75m
- Lot 235: Stafford Street, Derby – three adjoining buildings comprising thirty-two letting rooms, four flats and a house, sold for £850,000
Allsop’s next residential auction will take place via live stream on 23rd January 2024.
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