Allsop raised more than £28m from its online residential sale last week, with 83% of all lots offered sold.
This brings the total raised by Allsop under the virtual hammer to £140m since it moved its residential and commercial sales from the ballroom to its online offering in March.
Unable to offer group viewings due to Covid-19 safety restrictions, Allsop arranged virtual tours for the majority of the 88 vacant properties offered.
One of the key investment groups that proved resilient was assured shorthold tenancy investments, with 15 lots sold and showing an average yield of 6.99%. The safety of long-term ground rents also attracted private investors.
The largest sale of the day was lot 102, Troy House (pictured), set in more than six acres near Monmouth, Wales. This Grade II* listed 17th-century mansion extends to almost 44,000 sq ft and needs extensive work. It was offered against a guide price of £200,000 and sold after 560 bids for £1.35m.
Auctioneer Gary Murphy said: “Potential alternative uses ranged from residential apartments to a boutique hotel. Competition between different bidder categories was intense.”
Prior to auction day, Allsop sold 14 lots and received more than 1,200 pre-registered bidders for the 160 lots offered. However, more than 30 lots were withdrawn prior.
Murphy said bidders were now very comfortable with the “new normal”.
“Despite the lack of physical access, competition was exceptionally keen. Prices are holding up well with little perceptible change now since pre-lockdown,” Murphy said.
Allsop’s next residential sale will be held online on 16 July.
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