Allsop held its final sale of the year this week as the market waited to see whether the election result would affect results. The outcome was better than many had hoped for. Despite a modestly sized catalogue for the auctioneers (219 lots), the ballroom of the Intercontinental was crowded from the start. By 6.30 that evening, the hammer fell on the final lot bringing the sales total to £46m with 83% of all lots offered successfully sold. The firm expects that this total will have increased before Christmas.
“This sale was on a completely different scale to any other that we have experienced for a while” said auctioneer, Gary Murphy. “For most of this year, we have really had to work the bidding in the room. Sales percentages and totals have been respectable but it has been challenging. The wind has changed. Competition was keen and determined. Lots took longer to sell as a result and prices are improving. There were properties that sold well that would not have gone in October, in my view. 2020 looks very promising now.”
Allsop’s next residential auction sale will be held on 13 February at Intercontinental, Park Lane, London, W1J 7QY.
Notes to editor
About Allsop auctions
Allsop run the largest property auction departments in Europe through two highly experienced residential and commercial teams and is the UK’s number one auction house by transactions. We offer a wide range of lots covering residential vacant and investment properties, ground rents, land and development opportunities and secondary commercial lots. A minimum of six commercial and seven residential sales are held every year. Visit: https://auctions.allsop.co.uk/selling-at-auction
Allsop is an independent property consultancy with a market-leading reputation for high quality service and integrity, covering the UK from our offices in the West End, the City, Leeds and Brighton. In addition to our position as the UK’s largest and most successful property auction house, we offer an extensive range of services for residential, commercial and mixed use property.
We have the people, the skills, the experience and the drive to maximise value for our clients in any given market and like to do business in our own distinctive Allsop style – open, friendly and honest. Clients appreciate this, which is why so many stay with us over the long term.
In an unpredictable world, Allsop remains a reassuringly constant source of market knowledge, insight and expertise. Visit: www.allsop.co.uk
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