Allsop is hoping that a slight increase in the number of lots making up its July residential catalogue is signalling an uptick in the housing market in the second half of 2019.
The firm this week published the catalogue for its July auction, comprising a total of 225 lots – a slight increase on its July 2018 catalogue, which comprised 206 lots.
The highest-value lot in the catalogue is a former freehold office building in Slough, Berkshire, with planning consent for 31 one- and two-bedroom flats which is being offered at a guide price of £3.25m to £3.5m.
Allsop said that it had seen an increase in the number of investments in houses in multiple occupation included on its books this year, following changes to HMO licensing which came into force at the end of last year.
These include a freehold student accommodation building in Birmingham comprising 26 studio apartments which is being offered at a guide price of in excess of £2.6m. It currently has a rent reserve of £206,395 a year.
The catalogue also includes three residential buildings in West Hampstead with a combined investment value of £3.4m. The properties collectively generate a rental income of approximately £205,932 a year.
“While we anticipate a busy auction day before the summer break, many investors will be looking forward with optimism at potentially a new prime minister with a fresh and open approach to the residential property market,” said Richard Adamson, Allsop partner and auctioneer.
Allsop’s next residential auction will be held on 18 July at the InterContinental London Park Lane, W1.
