According to Allsop, the auction has a particularly high volume of high value lots in London, including three freehold adjoining terraced buildings in Notting Hill in west London, a freehold site in Nine Elms in south London with planning for a five-storey block of flats, and a characterful ‘island’ manor building and site in Mill Hill, north London.
Auction highlights include Lot 26: three freehold adjoining terraced buildings in Notting Hill, producing a total rent of £620,000 per annum, guided at £11.5m+, Lot 28: a freehold grade II listed mid terrace building in Marylebone, arranged to provide 10 self-contained flats, each subject to an AST, currently producing in excess of £200,000 per annum, guided at £4.75m+, and Lot 49: a freehold site in Nine Elms with planning for a five-storey building containing 17 self-contained flats, guided at £4m+.
At its residential auction in February, Allsop raised £57m from the sale of 188 lots, despite a challenging economic environment characterised by rising interest rates and inflation, reflecting the continued attractiveness of the auction market to investors.
Richard Adamson, partner and auctioneer at Allsop, said: “The success of our February auction saw both buyers and sellers returning to the market with renewed confidence following a turbulent end to 2022. The money markets seem to have settled, providing a more stable economic backdrop for investors to operate in together with more attractive borrowing rates.
"We are now delighted to release our March auction catalogue which continues this trend of renewed but cautious confidence with an increase in volume of 10% compared to the same time last year. The catalogue contains some very high-quality assets with 22 lots priced at £1m or more.”
