Allsop Residential’s latest auction, which took place on Thursday 26 September, has demonstrated that there is still strong demand for residential development opportunities and well-priced stock by selling 174 lots at a success rate of 70% and raising £61 million.  

That result means that Allsop Residential’s total for the year is now £376; add in Allsop Commercial auctions and the group as a whole has now sold £868m of property at auction so far this year.  

The biggest selling lot on the day was a freehold site in Clapham North, London SW9. With pre-application advice supporting conversion to provide 16 new residential dwellings, it sold for £3.44 million against a guide price of £3 million.  

Other notable sales included a long leasehold garage/workshop comprising over 3,000 sq ft in Chelsea, with potential a number of other alternative uses, which sold for £1.6 million against a guide price of £1 million; £1.59 million for two freehold buildings in Leeds, internally arranged to provide 18 x two bedroom flats fully let at a total rent of £118,740 per annum; and a long leasehold three bedroom flat in London NW1 that sold for £1.18 million.  

  Entries are now being taken for Allsop Residential’s final auction for 2017 and should be submitted by 17 November. The auction itself will take place at the Cumberland Hotel, Great Cumberland Place, London W1 on 14 December.