"We are delighted with another very strong result, the largest sale we have had for almost three years with a success rate well above the industry standard of 70%"
- Richard Adamson - Allsop
UK property auction house, Allsop, has announced that it raised £57m from the sale of 250 lots (representing a success rate of 82%) at its latest residential auction.
The highest value lot sold under the hammer was a freehold detached former care home in Woking, Surrey, which sold for £1.8m. The sale of a freehold semi-detached building comprising nine self-contained flats in Finsbury Park, London, was another notable highlight. It eventually sold for £1.55m having been guided at £800,000.
Other highlights included:
Lot 177: Draycott Avenue, Harrow – a freehold HMO comprising 13 units, sold for £1,550,000
Lot 189: Avens Court, Woking – a freehold detached former care home sold for £1,800,000
Lot 239A: West Hampstead Lance, West Hampstead – a freehold mid-terrace building arranged to provide six self-contained flats sold for £1,520,000
Allsop’s June residential auction was its largest auction since September 2021, highlighting growing confidence in the market among vendors and a continued demand for well-priced residential and mixed-use assets.
Richard Adamson, managing partner and residential auctioneer at Allsop, said: “We are delighted with another very strong result, the largest sale we have had for almost three years with a success rate well above the industry standard of 70%.
"This is a testament to the unrivalled experience of our team together with some very disciplined clients prepared to be led by the market. The easing of inflation and predication of interest rate cuts is starting to breathe confidence back into the market even with a pending general election.
"There is clearly strong demand for well-priced residential and mixed-use assets as investors chase income and value opportunities. We are already taking instruction for our July sale which we expect to be of high quality and with plenty of volume.”
