Allsop raised £43.5m from the sale of 114 lots at its June auction, achieving a 71% success rate.
The firm’s second in-room auction since the pandemic and its fourth residential property auction since the start of the year saw 10 lots sold for more than £1m.
The highest-value asset was a former community rehabilitation unit in London, sold for £2.76m.
As well as the usual houses and flats, ground rent investments and land, the sale also included air space and a former church.
Richard Adamson, Allsop partner and auctioneer, said: “We witnessed strong demand for well-priced income producing investments and value-add opportunities, such as sites with planning consent or redevelopment potential, which seems to be an ongoing trend.
“As ever, pricing is key in a market that has become more reliant on cash investors over the past few months.”
Other auction highlights include a freehold house in multiple occupation with planning consent to convert into a single dwelling, sold for £2.25m from a guide price of £2m, having received bids from multiple interested parties, in Putney, London; a freehold former university halls of residence providing 50 bedrooms and two ground floor offices, with planning permission for 28 self-contained flats, sold for £1.6m from a guide price of £1.25m, in Luton; and a freehold semi-detached building arranged internally as two self-contained flats, sold for £1.34m from a guide price of £900,000, in Balham London.
Allsop’s next residential auction will be held online on 3 August 2023.
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