Allsop raises £61.3m at latest auction
Allsop has raised £61.3m from its October residential auction.
The auctioneer sold 94% of its catalogue, with 262 lots exchanging hands in the two-day sale.
The highest value lot sold was a freehold detached building arranged as 28 self-contained flats, which was brought for £3.7m – an 8.85% yield.
Allsop has raised £61.3m from its October residential auction.
The auctioneer sold 94% of its catalogue, with 262 lots exchanging hands in the two-day sale.
The highest value lot sold was a freehold detached building arranged as 28 self-contained flats, which was brought for £3.7m – an 8.85% yield.
Other highlights included a freehold block of flats in Maidstone, Kent, which sold for £3.4m – an 8.13% yield – and an unbroken street of 19 freehold houses in Skegness, Lincolnshire, that produces an annual income of £110,856. It was sold for just over £1.2m, an 8.8% yield.
Richard Adamson, residential managing partner and auctioneer at Allsop, said: “Our two-day October auction proved to be another hugely successful event. Any concerns running up to next week’s much-anticipated autumn Budget have been alleviated with over 2,500 buyers registering to bid at the auction. There still seems to be plenty of appetite from investors, especially for well-priced income-producing assets and value-add opportunities.”
So far this year, Allsop has raised £525m from its residential auctions. Its next sale takes place on 7 November and features some 150 lots.
Image © Allsop
