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Allsop raises £40m at lively residential auction

The Negotiator
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The Old Brewery, Bridge Lane, Carlisle, Cumbria

 

Allsop Residential brought welcome relief to the market at its latest auction sale in September. Despite choppy political waters, the result calmed concerns by demonstrating a steady demand for realistically priced property. At the time of writing, over £40m has been raised overall with 80% of the catalogue successfully sold.

“We are very pleased with the outcome of this auction, given prevailing uncertainties.” said auctioneer, Gary Murphy. “This was a carefully constructed catalogue of sensibly priced stock. As a result, the room was well attended and bidders, both present and remote, competed enthusiastically. Sellers and buyers can be reassured that the auction room continues to be a lively and functioning market place.”

The sale offered a broad choice of locations. The auction results established that demand is not limited to London and the south east. The Old Brewery in Carlisle, Cumbria for example, comprises six freehold buildings arranged as 28 self-contained units. The property is part Grade II Listed and was offered with planning permission for change of use to provide a mix of 36 affordable dwellings. It was sold under the hammer on behalf of a housing association for £400,000.

November 21, 2019

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