Allsop’s seventh residential auction of the year raised £47.5m on 145 lots, with a success rate of 84%.
The day of the 9 November auction witnessed 4,296 bids and more than 1,061 bidder registrations.
A self-contained two-bedroom flat in Chelsea, SW3, showed the depth of demand when it attracted more than 200 bids. It eventually sold for £800,000, from a guide price of £300,000-plus (lot 40).
The highest value lot to go under the hammer was made up of two adjoining retail and residential buildings with development potential on Roman Road in Bow, E3 (lot 55). The investment sold at £1.1m from a guide of £1m-plus (GIY 5.52%).
Richard Adamson, partner and auctioneer at Allsop, said: “The market is clearly still very robust, and there seems to be a good level of buyer depth for well-priced assets across all sectors. The noise surrounding the possibility of imminent interest rate rises, which now look to be coming early next year, has clearly not fazed buyers.”
Other highlights included:
- Lot 91 – a freehold site in Essex, extending to 0.728 acres with potential for planning, sold at £1.1m originally guided at £1m
- Lot 33 – a landmark block of 125 flats on Goldhawk Road in Hammersmith, W6, sold for £1.1m from a guide price of £875,000.
Allsop’s next residential auction will be held online on 16 December.
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