Allsop’s next residential auction on May 30 will see 342 lots go under the hammer. The catalogue, which has now been released, is the largest Allsop residential auction catalogue since the vote to leave the European Union in June 2016. It comprises 19 lots guided at £1m+, with almost one fifth of the total number of investments located in Greater London.
The highest value lot in the catalogue is lot 58, in Crouch End, London. Comprising sixteen flats subject to an assured shorthold tenancy and six commercial units, the freehold detached block generates an income of £307,052 p.a. The property is located close to Crouch End Broadway and within walking distance to Highgate London Underground station and Harringay train station. The investment is guided at £6.5m with a gross initial yield of 4.72%.
Also located in north London, lot 33 is a striking red brick residential property in sought-after Hampstead. It is the first time in approximately 20 years it has been available to purchase. Comprising 11 flats with a total floor space of 8,501 sq ft and located within a five-minute walk of Swiss Cottage London Underground station, the property is guided at £4.5m.
Located in the Royal Borough of Windsor & Maidenhead, lot 65 comprises four self-contained flats with a ground floor retail unit, along with planning permission to create a new four-storey building. Situated on Eton High Street, the property is just a 10 minute-walk to Eton and Windsor Riverside train station, offering direct connections into London Waterloo. The property has a guide price of £700,000+.
In Kent, lot 29 is a freehold terrace house with two reception rooms, three bedrooms, kitchen, bathroom and rear garden. The house is subject to an Assured Shorthold Tenancy with a current rent reserve of £9,600p.a. The property, which spans over 900 sq ft, is guided at £225,000+.
In the north of the country, lot 79, a 1.7 acre site in Warrington, Cheshire, offers the potential for redevelopment. The site had previously been granted outline planning permission for 22 residential dwellings before lapsing. The land, which is currently empty, is just two miles from Warrington town centre and is guided at £750,000+.
Richard Adamson, Partner and Auctioneer, Allsop said: “The depth of this catalogue demonstrates that, after years of political uncertainty following the vote to leave the European Union, property investors are taking a positive approach to selling and are no longer waiting for a conclusion to the Withdrawal Agreement.
“May’s residential auction will offer a very strong selection of properties across the country; ranging from investment and development opportunities to vacant freehold houses and apartments. Assets that offer significant opportunity for redevelopment continue to generate interest and are likely to be sought-after on auction day.”
Allsop’s auction catalogues can now be better accessed on an enhanced Allsop website or newly launched app, benefiting from new and improved search functions. The improved site also provides registered customers with regular updates and enables investors to print their own catalogue, selecting assets of their choice.
The auction will take place on May 30th 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
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