Allsop raises £47.5m in November residential auction

• UK’s leading property auctioneer raises £47.5m on 145 lots at its November residential auction with a success rate of 84%
• Lot 40, a self-contained two-bedroom flat in Chelsea, sold for £800,000 – way above the guide price of £300,000+, receiving over 200 bids
• Lot 55, two adjoining buildings with development potential in Bow, sold at £1.1m – the highest value lot to go under the hammer

Allsop’s seventh residential auction of the year raised £47.5m on 145 lots, with a success rate of 84%.  The day of the auction witnessed 4,296 bids and more than 1,061 bidder registrations.

Richard Adamson, partner and auctioneer at Allsop, said: “We are delighted to have raised £47.5m at our November auction. The market is clearly still very robust, and there seems to be a good level of buyer depth for well-priced assets across all sectors. The noise surrounding the possibility of imminent interest rate rises, which now look to be coming early next year, has clearly not fazed buyers.”

Auction highlights included:

• Lot 55 – an income producing investment situated in Bow, comprising two adjoining buildings with development potential, sold at £1.1m, originally guided at £1m+ (GIY 5.52%)
• Lot 40 – a self-contained two-bedroom flat in Chelsea, sold for £800,000, well above the guided price of £300,000+, having received 200 bids
• Lot 91 – a freehold site in Essex, extending to 0.728 acres with potential for planning, sold at £1,104,000, originally guided at £1m
• Lot 33 – a landmark block of 125 flats in Hammersmith, sold for £1,094,000 from a guide price of £875,000

Allsop’s next residential auction will be held online on 16 December 2021.