The Commercial Team of Allsop, the UK's leading auctioneers, raised in excess of £66m following their auction held on the 18th May at The Berkeley.

In their third sale of the year, they sold a total of 136 lots reflecting a success rate of 84%, with an average lot size of £485,000.

17 lots managed to sell for over £1m, including four which were at or above £2m.

Duncan Moir, Partner and Auctioneer, commented: "The auction market has responded to the removal of political uncertainty with vigour. From the rostrum, there was a very positive feel to the room, with bidders competing hard for their chosen lots, leading to a number of excellent results for our clients.

"Looking forward, positive economic data and continuing low interest rates supports the case for property investment and our auction room gives vendors unrivalled access to an increasingly hungry pool of buyers."

The highest selling property of the day was Lot 95, a pub in Cockfosters let to Mitchells & Butlers on a new 35 year lease, which sold for £4m.

Their next sale will be held on Monday 6th July at The Dorchester, London W1.