"Achieving £55m in sales with a success rate of over 82% in a challenging market demonstrates continued demand for well-priced assets"
- Richard Adamson - Allsop
UK auction house, Allsop has announced that it raised £55m at its latest residential auction, representing a success rate of 82%.
The highest-value lot – a freehold grade II listed building internally arranged to provide a restaurant and two self-contained flats – sold for £2.35m from a guide price of £2m after competitive bidding (lot 20). Other lots included a range of residential and mixed-use investment and development opportunities across the UK.
The success of Allsop’s second residential auction of the year brings the total raised on behalf of vendors to over £120m, having raised £32m in the January residential auction and £41m in the February commercial auction.
Highlights of the event included Lot 9: Stoke Newington, London – a freehold mid-terrace building, sold for £1.75m from a guide price of £1.5m+, Lot 114: West Hampstead, London – a freehold HMO building internally arranged to provide six self-contained flats, sold for £1.35m, and Lot 125 – Wallasey, Merseyside – A freehold detached building internally arranged to provide 12 self-contained flats, sold for £1.1m (GIY 8.19%)
“Following our successful January sale, our second residential auction of the year delivered another stellar result," commented managing partner and residential auctioneer Richard Adamson, "Achieving £55m in sales with a success rate of over 82% in a challenging market demonstrates continued demand for well-priced assets. The catalogue featured properties from a diverse range of motivated sellers, attracting nearly 2,000 approved bidder registrations,"
He added, “Despite ongoing market pressures, income-generating and value-add opportunities remain highly sought after and additional sales are still being agreed upon post-auction, highlighting sustained interest. Our March catalogue will be released in the coming days and is set to feature another high-quality selection of properties.”
