Allsop Residential’s last auction before the summer break, held at the Cumberland Hotel on 20 July, demonstrated that investors are concentrating on value and quality amidst continuing political and economic uncertainty. 174 lots were sold, representing a success rate of 74%, raising a total of £52 million at an average of £302,000 per lot.  

In a nevertheless buoyant room, lots in Northern Ireland, Leeds and Liverpool performed particularly well, outstripping those across the rest of the UK.  

The biggest selling lots on the day were an office building in Stevenage with permitted development for 21 flats, which sold for £1.805 million against a guide price of £1.4 million+, and a luxury six bedroom house with swimming pool in Prestbury, Cheshire, which raised £1.8 million.  

Other notable sales included a Grade II listed manor house set on a 34 acre site in Chalmington, Dorset, complete with stables, paddocks and an aircraft hangar, which was sold for £1.43 million; a 10.43 acre development site near Belfast, which raised £1.3 million; and a long leasehold apartment on a private gated development in East Finchley, with a GIA extending to almost 135 sq m, which went for £1.37 million.  

Entries are now being taken for Allsop Residential’s next auction, which will take place at the Cumberland Hotel, Great Cumberland Place, London W1 on 14 September.