Allsop releases March residential auction catalogue

• Latest catalogue features 241 lots across the UK, a 10% increase in volume compared to March 2022
• 22 lots have guide prices of £1m or above, including a lot of three terraced houses in Notting Hill guided at £11.5m+
• High volume and high value lots reflect investor confidence returning to the market, says Allsop

Allsop has released its March residential auction catalogue offering 241 lots, 22 of which are guided at £1m or above. The latest catalogue features a mix of investment and development opportunities across the UK, including houses and flats, ground rent investment and vacant sites.

The auction has a particularly high volume of high value lots in London, including three freehold adjoining terraced buildings in Notting Hill in west London, a freehold site in Nine Elms in south London with planning for a five-storey block of flats, and a characterful ‘island’ manor building and site in Mill Hill, north London.

At its residential auction in February, Allsop raised £57m from the sale of 188 lots, despite a challenging economic environment characterised by rising interest rates and inflation, reflecting the continued attractiveness of the auction market to investors.

Richard Adamson, partner and auctioneer at Allsop, said: “The success of our February auction saw both buyers and sellers returning to the market with renewed confidence following a turbulent end to 2022. The money markets seem to have settled, providing a more stable economic backdrop for investors to operate in together with more attractive borrowing rates. We are now delighted to release our March auction catalogue which continues this trend of renewed but cautious confidence with an increase in volume of 10% compared to the same time last year. The catalogue contains some very high quality assets with 22 lots priced at £1m or more.”

Auction highlights include:

• Lot 26: three freehold adjoining terraced buildings in Notting Hill, producing a total rent of £620,000 per annum, guided at £11.5m+
• Lot 28: a freehold grade II listed mid terrace building in Marylebone, arranged to provide 10 self-contained flats, each subject to an AST, currently producing in excess of £200,000 per annum, guided at £4.75m+
• Lot 49: a freehold site in Nine Elms with planning for a five-storey building containing 17 self-contained flats, guided at £4m+
• Lot 50: a freehold vacant detached building in Mill Hill, internally arranged as six self-contained flats extending to approximately 372 sqm (4,000 sq ft), guided at £2.5m+.

Allsop’s next residential auction will be held online on 30^th March 2023, and the complete catalogue can be viewed here.