Allsop’s third online residential auction of the year has raised £38.7m – a 20% year-on-year increase and a success rate of 83%.
The highest value lot to sell on the day was a three-bedroom apartment with a roof terrace in Maida Vale (pictured), which was guided at £1m and sold for £1.28m.
Richard Adamson, partner and auctioneer at Allsop, said: “The residential market has shown a robust performance over the past 14 months despite protracted economic uncertainty. Investors are still drawn to UK property thanks to its ability to deliver long-term returns and offer value-add opportunities.”
He added: “The extension of the stamp duty holiday has been an important factor in helping to ensure sustained demand.”
The auction saw a total of 3,963 online bids placed during the day, with 1,145 bidder registrations.
Auction highlights included: a freehold Grade II listed building in Paddington with a rear courtyard (lot 29), which sold for £1.1m; two mixed-use freehold buildings comprising two retail units, four self-contained flats and one office unit in Horley, Surrey (lot 92), which was purchased for £791,000; and Kinmel Hall – an 80,000 sq ft Grade I listed mansion in Abergele, Wales, modelled on the Palace of Versailles (lot 73), which was guided at £750,000 and sold for £950,000.
Allsop’s next residential auction is on 24 June.
