Allsop has raised £43.5m from 152 lots at its eighth residential auction of the year, with a success rate of 81%.
The latest sale brings the total raised by Allsop’s residential auctions this year to £378m, an increase of almost 15% on 2020.
More than 5,000 bids were placed on the day of the auction, with more than 1,125 bidder registrations.
Richard Adamson, partner and auctioneer at Allsop, said: “We are very pleased with the strong finish to the year having raised over £43m at our final auction. Over the past year, investors have been operating in a highly turbulent landscape given the uncertainties of the pandemic, however, the market has proven to be robust.”
He added: “Despite the reinstatement of some of the Covid measures and the announcement of a rise in interest rates on the day of the sale, buyer confidence hasn’t been dampened, and enquiries have continued to come through even after the auction. We look forward to reconvening in the virtual ballroom in 2022, bringing yet another range of attractive investment opportunities to the table.”
Key sales on the day included lot 132 – three freehold eco-houses in Mill Hill, north London (pictured), which sold for £1.5m – a 2.36% yield – on behalf of receivers; lot 137 – 3.7 acres of freehold land with development potential in Wath upon Dearne, South Yorkshire, which sold for £836,000, well above the guide price of £200,000, having received more than 600 bids; and lot 113 – a freehold former health centre in Burntwood, Staffordshire, with potential for residential redevelopment, which sold £415,000. It had originally been guided at £180,000.
Allsop’s next residential auction will be held online on 17 February.
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