Allsop’s next residential auction on July 18 will see 225 lots go under the hammer. The catalogue, which has now been released, presents a multitude of investment and development opportunities with almost a third of lots featured in the catalogue based in London.
The July catalogue also comprises a number of HMO investments. Situated on Inglewood Road in West Hampstead lot 113, lot 114 and lot 115 when purchased together is the second highest value investment in the catalogue at £3.4m. Each building is arranged into five self-contained flats offering a combination of studio, one, two and three-bedroom flats. Located nearby West Hampstead rail station and London Underground station, the properties collectively generate a rental income of approx. £205,932 p.a. The lots can also be purchased on an individual basis at a guide of between £1.1m to £1.2m each.
The largest singular HMO investment to be offered is lot 171, an attractive freehold student building in Birmingham. The development comprises 26 studio apartments; 24 are subject to assured shorthold tenancies, with the other two reserved and vacant, respectively. The building is located within walking distance to four Birmingham universities and 0.4 miles from Birmingham New Street Station. The building currently has a rent reserve of £206,395 p.a. and is guided at £2.6m+.
Development and mixed-use investments remain highly sought after. This includes the highest value lot in the catalogue, lot 54, a former freehold office building in Slough, Berkshire. Located within easy reach to Slough train station, the property benefits from planning consent under permitted development for 31 one and two-bedroom self-contained flats across 12,637 sq ft and is guided at £3.25m to £3.5m.
Located on Battersea Park Road in South West London, lot 33, a 2,877 sq ft mixed-use property has planning consent for reconfiguration and extension work to provide a retail unit and four self-contained flats. This freehold building is guided at £1m+.
For buyers looking for an escape to the seaside this summer, lot 221 in Saltash, Cornwall is a rare opportunity. The three-bedroom penthouse apartment offers 180-degree views across the Tamar River Estuary, Plymouth and out to sea. With a passenger lift and video entry system, double garage and two private terraces, the 2,215 sq ft property is guided at £300,000+.
Richard Adamson, Partner and Auctioneer, Allsop said: “The ongoing political chaos and the paralysis at Westminster caused by Brexit and the Conservative leadership contest has become the new normal and we are seeing investors return to the market with a business as usual approach.
“There is movement in the market and July’s catalogue, which is slightly larger than last year, is testament to this. While we anticipate a busy auction day before the summer break, many investors will be looking forwards with optimism at potentially a new prime minister with a fresh and open approach to the residential property market. Not least the relaxation of stamp duty to further reinvigorate the market.”
The auction will take place on July 18th at The InterContinental London Park Lane, W1J 7QY. The catalogue can be viewed online.
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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