Allsop releases bumper residential catalogue ahead of largest ever August sale

• Allsop is gearing up for its largest ever August sale, with 275 lots on offer
• 10 lots have guide prices of £1m or above, including a block of eight flats in Kennington guided at £2.5m+
• Allsop raised £44.7m in its June in-room residential auction, bringing the total raised so far this year to £193M

Allsop, the UK’s leading property auction house, has released its August residential auction catalogue offering 275 lots, 10 of which are guided at £1m or above. The latest catalogue features a mixture of investment and development opportunities across the UK, including a former office building with planning permission for redevelopment and less conventional assets, such as roof space.

Allsop’s previous residential auction raised over £44.7m from the sale of 118 lots, unperturbed by the announcement of a double interest rate hike on the day of the sale, yielding a success rate of 75%.

Richard Adamson, partner and auctioneer at Allsop, said: “We are delighted to release our fifth residential catalogue of the year which includes 275 lots. This is the largest August catalogue we have ever released, and it includes a wide variety of asset types covering the length and breadth of the country. The current market conditions have made transacting challenging for many property owners, but the success of our June auction sale has encouraged a number of motivated sellers to consider the auction route – a safe way of securing a swift sale at any time of the year, even the summer holidays. We anticipate a busy few weeks ahead as our marketing campaign swings into action.”

Auction highlights include

• Lot 70: an unbroken block of eight self-contained flats in Kennington, fully let out on AST’s producing £267,000 per annum, guided at £2.5m+
• Lot 78: a freehold former office building with planning consent for residential use and 47 car parking spaces in Surrey, guided at £2.5m+
• Lot 67: a freehold former care home with development potential in South Croydon, guided at £1.9m+
• Lot 73: two freehold adjoining blocks of flats in Manchester, arranged to provide a total of 16 self-contained flats (14 subject to AST’s and two vacant), with total current rent reserved of £104,340 per annum, guided at £1.5m+

Allsop’s next residential auction is taking place online only on 3^rd August 2023.