- UK’s leading property auctioneer raises £34m in August from the sale of 115 lots, beating last year’s result
- The highest value lot to sell under the hammer was a garage and workshop in South Wimbledon with planning permission for seven flats, which sold for £1.52m
- The auction saw 600 registered bidders, with 2,156 bids placed on the day and a success rate of 80%
Allsop’s latest residential auction generated £34m from the sale of 115 lots, with a number of high value lots selling prior. A total of 2,156 bids were placed on the day, with 600 individuals having registered to participate in the much-anticipated sale.
Buyers from all over the world were invited to choose from a broad range of development and income-producing opportunities, including houses, flats, mixed-use schemes, and ground rent investments.
Richard Adamson, partner and auctioneer at Allsop, said: “We’re pleased to have raised £34m in our latest auction, marking an increase on the total generated this time last year. With overseas holidays being back on the agenda, the levels of buyer activity we’ve seen so far this summer are both reassuring and encouraging.
“The real estate market remains robust, and given the shortage of housing stock across the UK we expect to continue seeing healthy levels of investor interest in residential property. Despite the challenges presented by the current economic environment, including increased interest rates, high inflation and rising utility costs, few assets can match property in their ability to provide reassurance and long-term returns. We look forward to our September auction, which may take place in a slightly more cautious yet still very much active market.”
Auction highlights include:
- Lot 80 : a freehold garage and workshop with planning permission for seven self-contained flats in South Wimbledon, which was the highest value lot of the auction, selling for £1.52m
- Lot 19: a freehold house in Folkestone and the most popular lot of the day, which sold at £297,000 having received 140 bids
- Lot 21: a freehold house in Kennington which sold for £870,000 (originally guided at £800,000- £825,000)
- Lot 62: a freehold building with three flats in Ruislip, sold at £865,000 (from a guide price of £780,000)
Click here to view all of our auction results.
Allsop’s next residential auction will take place virtually on 22 September 2022.
