Allsop raises £57m in June resi auction
Allsop has raised £57m in its latest residential auction, its largest since September 2021.
Allsop said the sale highlighted “growing confidence in the market among vendors and a continued demand for well-priced residential and mixed-used assets”.
The amount was raised from the sale of 250 lots, representing a success rate of 82%. Twelve lots sold for more than £1m.
Allsop has raised £57m in its latest residential auction, its largest since September 2021.
Allsop said the sale highlighted “growing confidence in the market among vendors and a continued demand for well-priced residential and mixed-used assets”.
The amount was raised from the sale of 250 lots, representing a success rate of 82%. Twelve lots sold for more than £1m.
The highest value lot sold under the hammer was a freehold detached former care home in Woking, Surrey, which sold for £1.8m.
Other standouts included the sale of a freehold semi-detached building comprising nine self-contained flats in Finsbury Park, north London. It sold for £1.55m off a guide of £800,000.
Richard Adamson, managing partner and residential auctioneer at Allsop, said the success rate was “well above the industry standard of 70%”.
“The easing of inflation and predication of interest rate cuts is starting to [bring] confidence back into the market even with a pending general election,” he added.
“There is clearly strong demand for well-priced residential and mixed-use assets as investors chase income and value-add opportunities. We are already taking instruction for our July sale, which we expect to be of high quality and with plenty of volume.”
Allsop’s next residential auction will take place on 30 and 31 July.
Photo from Allsop
