Allsop recorded a total of £58.4m at its final residential sale of 2018.
The auction, held on 13 December, achieved a success rate of 80%, with competition in the room bolstered by a high number of remote bids. Allsop said it had a total of 233 registered remote bids, 44 of those made online.
The successful auction helped boost Allsop’s annual residential auction total for 2018 to £408m, with an overall success rate of 79%.
Allsop partner and auctioneer Gary Murphy said: “This is a very encouraging note on which to end a challenging year. I think that our regular clients and bidders are intent on continuing to trade despite Brexit. Business has to continue, and we expect to enter 2019 with another strong catalogue of attractive opportunities at realistic prices on behalf of a wide variety of clients.
“In the current housing market and political environment, we were naturally cautious in the run-up to auction day. As it transpired, the room was full and bidders were much keener than expected. Perhaps they were hoping to face less competition in the room than they did on the day.”
The largest investment to sell on the day was Blenheim Mansions in Brixton, SW2. The freehold corner building arranged as three shops and nine flats, which had been in the same family ownership for more than 60 years, sold for £3.17m from a guide of £2.8m. The asset generates £161,280 of income per year.
Post-sale, contracts have been exchanged on a further 11 lots, adding £4.13m to the total raised.
Allsop’s first residential auction of 2019 will be held on 14 February at the InterContinental Park Lane, W1.
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