Allsop hosts UK’s biggest ever single day residential auction

Allsop’s third residential property auction of the year, held last week, smashed the record books to become the UK’s biggest ever single day residential auction. The sale on Thursday 28th May, held at an extremely busy Cumberland Hotel in central London, raised £91.2 million, with 81 per cent of the 285 lots offered sold. No fewer than 21 lots sold for more than £1 million, which Auctioneer Gary Murphy (right) believes was a good indicator of the health of the investor market post-election. “This was a very different sale room to anything we have experienced this year,” he said. “And it might have been very different were it not for the election result. We have seen a far more stable and confident market place today with some very strong prices paid.” He added, “This was no doubt a challenging catalogue given the number of lots and the significant value of stock offered. But the level of activity and depth of appetite in the market is reassuring. Whilst, as always, pricing is key to results and this sale bodes well for auctions over the next few years.” The huge residential sale came just days after Allsop’s commercial auction division raised more…