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Quality assets attract investors

Allsop’s latest residential auction defied perceptions of a challenging market, achieving a total of £42.5m from 155 lots.

The Negotiator

Allsop auctioneer imageAllsop’s latest residential auction defied perceptions of a challenging market, achieving a total of £42.5m from 155 lots. Achieving a success rate of 76 per cent, well above the industry average of 69 per cent, these new figures bring the firm’s residential auction sales total for the year to £349m with a success rate of 78 per cent.

Regions that saw the most buying activity include London with 54 lots sold achieving £17.5m and the South East, with 32 lots raising a total of £7.8m.

The largest lot of the sale, lot 50, a Grade II Listed triplex apartment of over 6,280 sq ft overlooking Regents Park, was offered on behalf of receivers. This six bedroom home featured the building’s original six-storey staircase and a single garage. It was guided at £7m was sold after auction to an owner-occupier.

Outside London and the South East, lot 208, a parade of shops, creche and nightclub and 19 self-contained flats with a car park in Lowestoft achieved £900,000. Lot 126, a freehold block of 24 flats located in Newcastle-under- Lyme sold for £930,000.

Gary Murphy, Auctioneer said, “Despite all the caution surrounding Brexit, buyers and sellers were there to do business. The success rate of the sale continues to improve post auction, as the team secured contracts on unsold lots – some buyers prefer to wait on their hands and negotiate afterwards.”

December 12, 2018

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