"During an economic and political climate which seems to be in a prolonged state of unpredictable uncertainty, it is no surprise that some investors are a little more cautious than they have been for a while"
- Richard Adamson - Allsop
Property consultancy and UK auction house, Allsop, has announced that it raised £28m at its latest residential auction, representing a success rate of 76%.
The highest-value lot sold under the hammer, a freehold HMO building in Coventry, was acquired for £2.255 million. Other lots included a range of residential and mixed-use investment and development opportunities across the UK.
The success of Allsop’s fourth residential auction of the year brings the total raised to over £140 million, having recently raised over £26 million at its previous auction in March.
Highlights of the auction included Lot 17: Kensington, London – a freehold semi-detached building internally arranged to provide four self-contained flats, sold for £2.1m, Lot 23: Leicester – a freehold building comprising 20 student flats with car parking, sold for £1.74 million after competitive bidding which started at £1.4m, and Lot 71: Acton – a freehold end of terrace building comprising a retail unit and three self-contained flats producing a total of £70,287 per annum, sold for £905,000, reflecting a gross yield of 7.76%
Allsop’s next residential auction will be livestreamed and take place on 21st and 22nd May 2025.
“During an economic and political climate which seems to be in a prolonged state of unpredictable uncertainty, it is no surprise that some investors are a little more cautious than they have been for a while," explained managing partner and residential auctioneer at Allsop, Richard Adamson.
He added, "Despite this, our result shows that there is still strong demand for well-priced income-producing assets and suitable value-add opportunities.
“The volatility we have witnessed in the stock market recently has seen some investors turning to the safe haven of UK real estate, which is a trend we have seen over the past few years. We look forward to witnessing continued investor appetite at our next auction, which takes place over two days next month.”
