Allsop Residential’s latest
auction, which took place on Thursday 14 September, bucked the trend of weak
post-summer auction results elsewhere in the UK, by selling 164 lots at a
success rate of 80% and raising £71 million.
That made it Allsop’s biggest
September sale since 2008 and represents an £11 million increase on last year’s
September auction, providing a welcome boost to market confidence in economic
conditions still dominated by Brexit uncertainties.
The biggest selling lot
on the day was a residential/B1 development opportunity in Kingsbury, London,
with permitted development rights for conversion to 17 flats, which sold for
£3.21 million against a guide price of £2.85 million.
Perhaps the most notable sale,
however, was a former council house in St Ives, Cornwall, which enjoys stunning
views across the beach and ocean. Despite needing extensive internal
refurbishment, it sold for £1.44 million against a guide price of £625,000.
Other notable sales
included a 3.93 acre site in Arlesey, Bedfordshire, with permitted development
for 39 dwellings, which sold for £2.95 million, a mid terrace house in
Belgrave, London SW1W, which raised £1.59 million and a manor house in over 4.5
acres of gardens and grounds on Hayling Island in Hampshire was sold for £1.34
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 26