Allsop have released their fourth residential auction catalogue of the year this week. The sale will be held on Thursday 14th July at the Park Lane Hotel, Piccadilly, London, W1. A total of 315 lots will be offered (unless sold prior or withdrawn).
In summary, the catalogue includes:
• 135 distressed lots (43% of the total lots)
• 25 lots from 11 housing associations
• 5 lots from 2 local authorities
• 26 regulated tenancy investments
• 40 ground rent investments
The highlight of the sale are 6 apartments (lots 26- 31) located next to the Olympic stadium. 4 of the 6 apartments, including the penthouse have unbroken views of the stadium.
The penthouse (lot 26), is already under contract to the BBC to be used as their studio during the games due to the quality and proximity of the view. The underlease has been signed for 12 months for £114,000.
Lots 29, 28 and 27 have an estimated rental income of £5,000 a week during the 6 week period of the games.
Following recent press coverage for the London rental market for the Olympics these apartments represent an exciting investment opportunity for property and sport fans alike and we anticipate some keen interest on the day.
The catalogue offers a wealth of quality stock as Allsop continue to strengthen their market position. Our last residential auction sale on 26 May has to date raised£46.7m (88% sold). Our total sales for the year (2011) now stand at £130 m (89%against an industry average of 67%)
Auctioneer’s announcements 9.30 a.m.
Lot 1 to be offered at 9.45 a.m. precisely
Ground Rent Session (Lots 276-315)
Lot 276 not to be offered before 5.30 p.m.
Please click here to view the online catalogue.
Any outstanding guide prices will be posted to our web site as soon as they become available.
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.
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