Allsop Residential’s October auction achieved a success rate of 76% against a current industry average of 69%, selling 169 lots at a total of £42.6 million with an average lot size of £253,000. Those figures mean Allsop Residential has now sold £349 million worth of assets this year at a success rate of 79%.
The highest value lot in the sale was a 6,280 sq ft Grade II triplex apartment overlooking Regent’s Park in London. With a guide price of £7 million, it was sold post to an owner occupier.
Partner and Auctioneer Gary Murphy commented: “The sale got off to a very encouraging start in tricky market conditions. It’s so important to select the correct lots at the right prices in this climate. But despite all of the caution surrounding Brexit and the political landscape, both buyers and sellers were clearly there to do business.”
Other notable sales included: a semi-detached HMO building in Kilburn, NW2, was sold for £980,000; two connecting freehold buildings in Lowestoft, arranged to provide a retail parade, a creché, a nightclub, 19 self-contained flats and a car park, which raised £900,000; and a freehold block of 24 self-contained flats in Newcastle-under-Lyme – with a total rental income of over £94,000 per annum, it sold for £930,000.
Entries are now being taken for Allsop Residential’s next auction and should be submitted by 16 November. The auction itself will take place at the Cumberland Hotel, Great Cumberland Place, London W1 on Thursday 13 December.