It was a competitive and enthusiastic room at the fourth auction of the year for Allsop's Residential Auction Team as they sold a total of 211 lots with a success rate of 86%.

The auction, held at the Cumberland Hotel on Thursday 16th July, has raised £56m to date and the average lot size was £264,000.

Auctioneer Gary Murphy commented: "This was one of the most competitive and enthusiastic rooms we have seen in a while. There was some very protracted bidding battles, particularly for London stock. The depth of demand was noticeable. Specialist investors, who have been absent for a while, are returning with serious intent to buy."

A highlight of the auction was Lot 5, Land to the rear of 1 Elsworthy Terrace, Primrose Hill, which had a guide price of £100,000 – £150,000 and sold for £1.26m.

A further successful sale was Lot 15, Atlantic Wharf, Wapping – a rare and unique freehold ground rent investment secured over 213 apartments with a riverside location which sold for £1.4m.

Allsop's next residential sale will be held on Thursday 17th September at the Cumberland Hotel, Great Cumberland Place, London W1.