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Allsop’s first residential auction of 2012 set an encouraging tone for the year ahead raising over £47m from the sale of 85% of its catalogue. This was the market leading firm’s highest February residential total since 2009 (£56.5m).

Held in the cavernous ballroom of the Park Lane Hotel on Piccadilly, London, all seats were taken from the 9.45am start and there was standing room only for most of the day. Investors, traders and owner occupiers competed for a wide range of residential and mixed use properties ranging from vacant houses and flats to multi let apartment blocks and development sites.

Speaking after the sale, which finished at 8.00pm in the evening, auctioneer Gary Murphy said,

“This was a very satisfying result. Allsop auctions are widely regarded as a reliable barometer so a successful first sale was important to us and our market place.”

Commenting on investor demand around the country, he added,

“Towards the end of last year we were noticing more of a north south divide as buyers turned to the perceived security of London and the south east. But as the day went on it was clear that there was sustained demand for income in regional locations. Investors are clearly attracted by the double digit returns available as London and the Home Counties continue to trade at a premium”

Larger lots sold particularly well with the highest price of the day being achieved for a vacant 2200 sq ft house in Paultons Square, Chelsea. Guided at £3.5m the prestigious location attracted a post-sale bid in the room at a higher figure. A former fire station and ancillary building in Charlton Road, Blackheath, London, SE3 attracted strong interest. Offered on behalf of Greenwich Council and located within a conservation area this substantial corner site sold for £1.32m having previously attracted offers by private treaty of £1m.

Allsop’s next residential sale will be held in Dublin on March 1st with its Irish partner Space. The firm is now taking instructions for its next London sale on 29th March.



 
Highlights included:

Lot 17
34 Milton Avenue, Highgate, London, N6 5EQ
A freehold end of terrace building arranged to provide nine bedsitting rooms with ancillary accommodation.
ON THE INSTRUCTIONS OF JOINT ADMINISTRATIVE RECEIVERS
Guide Price £760,000+ 
Result £975,000 

Lot 32 
24 and 24A Melrose Avenue, Cricklewood, London, NW2 4JS
A freehold semi-detached building internally arranged to provide nine residential units.
ON THE INSTRUCTIONS OF JOINT FIXED RECEIVERS AND JOINT ADMINISTRATORS 
Guide Price £725,000+ 
Result £750,000 

Lot 33 
54-57 St Michael’s Street and Second Floor Flat at 57 St Michael’s Street, Paddington, London, W2 1QR
A leasehold mansard roof space and a leasehold self-contained second floor flat.
BY ORDER OF A HOUSING ASSOCIATION
Guide Price £750,000 – £820,000 
Result £810,000 

Lot 37 
117-121 Charlton Road, Blackheath Standard, London, SE3 8TL
A freehold detached building arranged to provide six self-contained flats, one self-contained studio flat and an MOT garage
Potential for extension and redevelopment subject to all necessary consents
BY ORDER OF THE LONDON BOROUGH OF GREENWICH
Guide Price £1M – £1.1M 
Result £1.32M 

Lot 60 
6 Anson Road, Cricklewood, London, NW2 3UT
A Freehold Detached Building arranged to provide Eleven Residential Units
ON THE INSTRUCTIONS OF JOINT FIXED CHARGE RECEIVERS AND JOINT ADMINISTRATORS 
Guide Price £1M+ 
Result £1.08M 

Lot 82 
68 Anson Road, Cricklewood, London, NW2 4AS
A freehold mid terrace building internally arranged to provide seven residential units.
ON THE INSTRUCTIONS OF JOINT ADMINISTRATIVE RECEIVERS 
Guide Price £670,000+ 
Result £800,000 

Lot 96
36 Rowfant Road, Balham, London, SW17 7AS
A freehold mid terrace house potential for refurbishment.
BY ORDER OF PEABODY
Guide Price £550,000 – £600,000
Result £800,000

Lot 102 
25 Holly Grove, Peckham, London, SE15 5DF
A freehold mid terrace building arranged to provide three self-contained flats
BY ORDER OF AMICUS HORIZON
Guide Price £300,000 – £350,000
Result £620,000 

Lot 112  
14-16 Peckham Hill Street, Peckham, London, SE15 6BN
Two mid terrace buildings with planning permission for change of use and conversion to provide six self-contained flats.
BY ORDER OF A HOUSING ASSOCIATION
Guide Price £600,000 – £700,000 
Result £700,000

Lot 230 
202 St Paul’s Road, Islington, London, N1 2LL
A freehold mid terrace building Internally arranged to provide four self-contained flats
BY ORDER OF L&Q GROUP
Guide Price £700,000+ 
Result £960,000 


Notes to editor

Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house.  Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.

Contact

To arrange an interview or for the supply high resolution images or further information please contact Anna Jones
Anna.Jones@allsop.co.uk
020 7543 6728