UK’s leading property auctioneer raises £43m on 166 lots at its June residential auction, with a success rate of 90%

The largest lot to sell on the day was lot 40, a freehold building in Wandsworth Common, sold for £1.5m

The June auction saw more than 1,000 bidder registrations, with 3,748 bids placed throughout the day

Allsop’s fourth residential auction of the year raised £43m on 166 lots, with a success rate of 90%. On the day of the auction, there were 3,748 bids and 1,000 bidder registrations.

Richard Adamson, partner and auctioneer at Allsop, said: “Our June auction saw a flurry of activity, and we’re pleased to see that buyer demand has remained strong despite the looming end of the Stamp Duty holiday. The successful rollout of the vaccination programme coupled with the gradual lifting of the Covid restrictions across the country has helped sustain and amplify confidence in the residential property market, and we expect this trend to continue well into H2 2021. We anticipate another busy auction in August and look forward to bringing more opportunities to the market as the UK returns to normality”.

Auction highlights included:

  • Lot 32 – a freehold detached former office building in Haywards Heath, West Sussex, with prior approval for change of use to provide 76 apartments, was the biggest lot of the auction, selling prior for well in excess of the £7m guide price
  • Lot 40 – a freehold semi-detached period building in Wandsworth Common, London, comprised of two self-
  • contained maisonettes was the largest lot to sell on the day of the auction, achieving £1.5m
  • Lot 8 – a vacant leasehold site in West Drayton with 10 garages and planning permission for two 2-bedroom semi-detached bungalows was the most popular lot of the day, with over 40 buyers registering to bid on this lot and a total of 283 bids placed on the day. The lot, originally guided at £125,000, sold for £408,000

Allsop’s next residential auction will be held online on 5th August 2021.

Leave a Reply

Your email address will not be published.