A very varied selection of lots was on offer at Allsop's Residential auction, held on Thursday 17th September 2015 at the Cumberland Hotel. A total of 190 lots were sold, raising £49.4m with the average lot size being £258,000.
Established corporate residential investors competed strongly for Assured Tenancy investments and Life Tenancies proved a strong draw from the same buyer class. Recent changes to the SDLT rules have undoubtedly had a cooling effect on the £1m+ market, particularly in central and Greater London, although buyers were still chasing good locations where pricing showed value.
A highlight of the auction was Lot 118, 52 Cambridge Gardens, London W10 - a vacant freehold mid terrace residential building of over 2,840 sq ft which sold for £2.4m.
A further successful sale was Lot 185, Former Bayleaf Tree Restaurant, Maidenhead, Berkshire - a freehold two storey former restaurant which attracted strong competition and sold for £780,000.
Allsop's next residential sale will be held on Thursday 29th October 2015 at the Cumberland Hotel, Great Cumberland Place, London W1. Entries are now invited and the list will close on 5th October 2015.