A freehold development site in Balham, SW12, with planning consent for seven houses will be offered with a £3.2m-plus guide in Allsop’s September residential auction.
The 0.25-acre site east of Balham High Road (lot 25) is currently occupied by garages and a workshop. It is the highest-priced lot in the catalogue for the 17 September online-only sale, which runs to 295 lots. This is an increase of almost 8% on the 274 lots offered by Allsop in September last year.
Allsop said the strength of the latest catalogue shows positive signs for the residential sector following an unpredictable few months.
Some 14 lots are guided above £1m, while 24 lots offer planning permission or potential for development.
Just below the £1m mark, lot 121 in Newport, Wales, is a freehold Grade II listed castle with farmhouse, bungalow, outbuildings and dovecote, set in 64.8 acres.
The site has planning permission to restore the castle, convert the outbuildings to offices and develop the farmhouse and bungalow into 12 new dwellings. With multiple opportunities for future use, including a private home or conversion into a boutique hotel, the property is guided at £950,000-plus.
Richard Adamson, auctioneer and partner at Allsop, said: “Our September auction catalogue is a reassuring sign that activity is returning to the residential market. With several development and renovation opportunities as well as turn-key and investment properties, there is a wide selection for buyers looking to take advantage of low interest rates and the stamp duty holiday.”
Other highlights from the catalogue include:
- Lot 184, lot 185, lot 186, lot 187, lot 188, Margate, Kent – self-contained leasehold flats to be offered together or separately on the seafront at Cliftonville in Margate, with a total guide of £750,000-plus
- Lot 82, Croydon, Surrey – a freehold development site with planning consent for a four-storey building to comprise eight apartments. Guide £1.1m – £1.2m-plus
- Lot 75, Haywards Heath, West Sussex – a freehold Grade II listed semi-detached two-bedroom house with rear garden, with potential for development, subject to consent. Guide £300,000 – £325,000-plus
To send feedback, e-mail julia.cahill@egi.co.uk or tweet @EGJuliaC or @estatesgazette
