Allsop has raised £55.8m through the sale of 182 lots in its March residential auction, taking its first-quarter total to £238m.
The March auction saw an 83% success rate. Lots sold included 2 Parkside, NW7, an unmodernised detached house extending to 2,390 sq ft. The property generated interest ahead of the auction, with almost 100 registered to bid, before going on to sell for £1,850,000.
The auction contained a mix of investment and development opportunities across the country.
Other highlights included a former care home with development potential, extending to 10,850 sq ft, which sold for £740,000; a freehold mid-terrace four-bedroom flat in Balham, south London, which sold for £1,230,000; and a block of nine self-contained flats and one retail unit producing £143,496 per annum in Deptford Broadway, south London, which sold for £1,600,000 reflecting a GIY of 8.97%.
Richard Adamson, partner and residential auctioneer, said: “Our third residential auction of 2024 continued to demonstrate the appeal of well-priced investment and development residential and mixed-use opportunities across the country.
“Having raised 25% more in terms of amount raised compared to the same period in 2023, it represents an incredibly strong start to the year in a market in which most are finding it very challenging to transact.
“The success rate of 83% is significantly higher than the industry average, which is a testament to our team’s unrivalled knowledge, experience and expertise. With our next catalogue now released, featuring over 220 lots across the UK, we’re looking forward to maintaining momentum at our next auction on 18 April.”
Photo © Allsop
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