Allsop’s upcoming residential auction, which will take place next week at The Cumberland Hotel in central London, will feature 292 lots, including plenty of attractive property investment opportunities.
May’s auction offers lots of strong investment opportunities in prime central locations, with 109 of the 292 lots in a London postcode.
The auction catalogue, which is available to view by clicking here, comprises numerous high-quality, good value and well-located properties, with 39 lots being offered at a guide price of £1m+.
Richard Adamson, partner at Allsop, said: “The quality of stock is a standout feature of this auction. The catalogue is ripe with investment and development opportunities, especially within London where an abundance of good-value properties in strong postcodes will be going under the hammer.”
The company’s last residential sale in March raised a total of just over £54m, with an overall success rate of 71%.
The average lot size was £368,000 and five of the properties sold achieved in excess of £1m.
Gary Murphy, partner at Allsop, commented: “As ever the catalogue was very diverse, both geographically and with regard to the types of properties available, but the common theme was the importance of pricing. In particular, higher value assets and poorer quality lots, for which the pool of bidders is likely to be more limited, need keener pricing. Where lots were priced sensibly they saw competitive bidding, with many going under the hammer well in excess of the reserve.”
“Notably, distressed sales were at the lowest level for a number of years, which is a good sign of an improved economy,” he added.