Sale generates 84% success rate as 127 lots sold
Allsop’s latest residential auction raised £40m, with a success rate of 84% and 127 lots sold, the company says.
The results of its August 20th auction attracted more than 725 bidders, including both private and professional buyers.
Allsop said that investor appetite remained particularly robust for income-producing assets, while owner-occupiers were also active throughout the sale, looking for opportunities across London and the wider UK.
The auction included a broad range of lot types, including large-scale residential investments and mixed-use properties to smaller residential opportunities.
Strength of demand
Sales included a freehold building comprising 30 self-contained flats in Mansfield, which sold for £2.15m, a freehold mid-terrace building providing nine letting rooms in Chiswick which sold for £1.27m, and a mixed-use investment property in Ashford which achieved £955,000.
Richard Adamson, managing partner and residential auctioneer at Allsop, said: “August has traditionally been viewed as a quieter month for the property market, but the strength of demand we saw throughout this auction tells a different story. Buyers remain highly selective, but when assets are priced sensibly and offer clear value, there is still significant competition.
“What was particularly encouraging was the breadth of demand across the sale, demonstrating that the auction market remains an attractive route for a wide range of buyers. The results reflect a market that is continuing to transact despite wider economic uncertainty.”
The catalogue for the next auction, which will take place on 16th and 17th September, will launch on 28th August.
