"Following the success of our January auction and a very strong result in our two-day February sale, we are seeing clear signs that buyers are starting to return to the market after a turbulent 2023"
- Richard Adamson - Allsop
Auctioneers, Allsop, raised £51.3m from the sale of 260 lots (representing a success rate of 85%) at its second residential auction of 2024.
The highest value lot sold under the hammer, a freehold semi-detached building in Shepherd’s Bush, sold after competitive bidding between a range of would-be buyers including owner-occupiers and developers for £1,275,000, having been guided at +£1 million.
Highlights of the event included Lot 28: Barnsley, South Yorkshire – a freehold former care home extending to approximately 12,000 sq. ft occupying a site of 1.4 acres, sold for £760,000 from a guide price of £225,000+, Lot 321: Shepherd’s Bush, London – a freehold semi-detached building extending to 2,164 sq. ft, sold for £1,275,000 from a guide price of £1m+, and Lot 219: Hampstead Garden Suburb, London – a freehold shop unit with four bedroom maisonette above, sold for £787,500 from a guide price of £725,000+.
Richard Adamson, partner and residential auctioneer at Allsop, said: “Following the success of our January auction and a very strong result in our two-day February sale, we are seeing clear signs that buyers are starting to return to the market after a turbulent 2023.
"There is good demand for sensibly priced investments and developments across the nation, particularly mixed-use properties and value-add opportunities, however, the key to success remains accurate pricing. We are currently taking instructions for our next auction on 26th and 27th March as we anticipate another large sale ahead.”
Allsop’s next residential auction will be live-streamed and take place on 26th & 27th March 2024.
