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
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
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.