Property auctioneer, Allsop, has announced that it had raised £38.7m on 127 lots during its May auction, with a success rate of 83% - a 20% increase on year-on-year sales.
The auction saw a total of 3,963 online bids placed during the day, with 1,145 bidder registrations.
highlights included Lot 54 – Lauderdale Mansions, Maida Vale – a three-bedroom leasehold apartment with a roof terrace. Guided at £1m and sold for £1.28m, lot 29 – a freehold Grade II listed building in Paddington with a rear courtyard, sold for £1.1m, and Lot 73 – Kinmel Hall, a Grade I listed mansion in Abergele, Wales, modelled on the Palace of Versailles, featuring 122
rooms and extensive gardens. The 80,000 sq ft property was sold for £950,000, in excess of the guide price (£750,000).
Richard Adamson, partner and auctioneer at Allsop, said: “The residential market has shown a robust performance over the past 14 months, despite protracted economic uncertainty. Investors are still drawn to UK property thanks to its ability to deliver long-term returns and offer value-add opportunities.
“The extension of the Stamp Duty holiday has been an important factor in helping to ensure sustained demand. This has been aided by the gradual easing of lockdown restrictions and the successful rollout of the UK vaccination programme. We look forward to releasing our June catalogue with plenty more attractive investment opportunities across the country.”
Allsop’s next residential auction will be held online on 24 June 2021.