More than 330 residential properties will go under the hammer in central London next week, including several sites with permitted development rights.
Allsop’s upcoming residential auction, which will take place on Thursday 20th July at The Cumberland Hotel on Great Cumberland Place, will feature the highest number of lots so far this year and a wide range of properties, including lots with redevelopment potential and high-value luxury properties from across the country.
No fewer than 35 lots are priced at £1m and above, with lot 20 in Newbury, the highest in the catalogue at £9m. The site comprises three office buildings located on the M4 corridor, all with Permitted Development Rights to provide 129 flats.
Lot 45, currently seven office suites, moments from Leatherhead town centre in Surrey, also has redevelopment potential. Offered at £4.7m, plans have been submitted to develop the site into 45 one bedroom flats.
July’s auction will also offer a number of luxury and new build homes as owner-occupiers and new home developers see the benefits of private treaty with an auction backstop as an effective route to market.
Gary Murphy, partner and auctioneer at Allsop, said: “This is one of the most exciting auction catalogues produced for some time. With more than 330 lots, it will be a very full day in the auction room.
“We have worked hard to ensure our pricing is realistic in order to provide opportunity for investors, owner-occupiers and developers.”