Allsop is gearing up for its largest residential auction in 10 years, with 505 lots set to be offered over a three-day sale at the end of the month, reflecting both the supply and demand that has built up over the summer.
The first day of the auction will take place at the May Fair Hotel in London, W1, on 21 September, while the following two days of the sale, on 27-28 September, will be held remotely via livestream.
Some 21 lots have guide prices of more than £1m, including a freehold Victorian mansion in Surrey guided at £6.5m. A former health centre in East Sussex with development potential is guided at £1.7m.
Allsop raised £47m from 175 lots in its August residential auction, reflecting a 78% success rate and bringing the total raised so far this year to £239m.
Richard Adamson, partner and auctioneer at Allsop, said: “While much of the residential property market has had a quiet summer, we continue to see a huge amount of activity and appetite from domestic and overseas investors.”
The auction will also see fresh talent brought to the rostrum, with associate David Evans wielding the gavel for the first time.
Auction highlights include:
- Lot 40: a freehold Victorian mansion in Surrey, set in more than 11 acres with multiple outbuildings, guided at £6.5m+
- Lot 58: a substantial freehold care home and site in Bexhill-on-Sea, East Sussex, with planning permission for conversion to provide 21 residential units, guided at £1.7m+
- Lot 196: a freehold site in Colchester, Essex, with consent for 119 one and two-bedroom flats, guided at £3m+
- Lot 309: a freehold former Post Office in St Austell, Cornwall, with planning permission for part-conversion and part-new-build for 34 residential units, guided at £600,000+.
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