Allsop raised £51.3m from the sale of 260 lots at its second residential auction of 2024.
Seven lots were sold for more than £1m. Forty lots were withdrawn prior and 85% of lots offered found buyers.
The highest-value lot sold under the hammer was a freehold semi-detached property in Shepherd’s Bush, west London (lot 321), pictured, which sold after competitive bidding between owner-occupiers and developers for £1.275m. It had been guided at £1m-plus.
The two-day live-streamed sale, held on 14 and 15 February, followed a smaller live-streamed sale in January which raised £12.8m from 125 lots (with a 94% success rate).
Richard Adamson, partner and residential auctioneer at Allsop, said there were “clear signs that buyers are starting to return to the market after a turbulent 2023”.
He added: “There is good demand for sensibly priced investments and developments across the nation, particularly mixed-use properties and value-add opportunities, but the key to success remains accurate pricing.”
Other highlights of the sale included:
- Lot 28: Barnsley, South Yorkshire – a freehold former care home extending to approximately 12,000 sq ft occupying a 1.4-acre site, sold for £760,000 from a guide price of £225,000+
- Lot 219: Hampstead Garden Suburb, London – a freehold shop unit with four-bedroom maisonette above, sold for £787,500 from a guide price of £725,000+
- Lot 291: Hemel Hempstead, Hertfordshire – a former NHS office with planning permission for eight self-contained flats, sold for £700,000 from a guide price of £650,000+
Allsop’s next residential auction will be live-streamed and will take place on 26 and 27 March.
Photo courtesy of SEC Newgate
Send feedback to Julia Cahill
Follow Estates Gazette
