Allsop resi auction raises £34m

Allsop raised £34m in its latest residential auction, with a success rate of 92% across 141 lots. Sales included a pair of freehold semi-detached buildings in Worcester, which sold for £930,000 having been guided at £225,000, with more than 50 buyers registering to bid.  A freehold building in Darlington, County Durham, sold for £990,000 off a guide of £225,000. Richard Adamson, managing partner and residential auctioneer at Allsop, said: “While August is typically a quieter month for property transactions, our recent auction proved popular, with over 2,000 bidder registrations. In the past four weeks alone, our residential auction team has achieved over £100m in sales, boasting a success rate of 92%, well above the industry average of 75%. “Despite a challenging market, our extensive experience continues to attract those looking to sell their assets quickly and at an attractive price. As we prepare for our September auction, early indications suggest it will be another large sale, with many investors looking to recalibrate portfolios in anticipation of a capital gains tax rise.” The firm’s next residential auction will take place on 25 and 26 September via livestream. Image from Allsop