Allsop raises £55 million in February residential auction

Allsop, the leading property consultancy and the UK’s largest property auction house, raised £55 million 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 £2.35 million from a guide price of £2 million 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 £120 million, having raised £32 million in the January residential auction and £41 million in the February commercial auction.

Richard Adamson, managing partner and residential auctioneer at Allsop, said: “Following our successful January sale, our second residential auction of the year delivered another stellar result. 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.

“Despite ongoing market pressures, income-generating and value-add opportunities remain highly sought after and additional sales are still being agreed 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.”

Residential auction highlights include:

·       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

·       Lot 125 – Wallasey, Merseyside – A freehold detached building internally arranged to provide 12 self-contained flats, sold for £1.1m (GIY 8.19%)

Allsop’s next residential auction will be livestreamed and take place on 18^th and 19^th March 2025.