Allsop raised £28m at its latest residential auction with the highest value lot selling for £2.255m.
The auction, which had a success rate of 76%, featured a range of residential and mixed-use investment and development opportunities across the UK.
Auction highlights included the £2.255m sale of a freehold HMO building in Coventry (pictured), which provides 35 ensuite bedrooms and produces annual income of £253,920.
In Kensington, a freehold semi-detached building internally arranged to provide four self-contained flats, sold for £2.1m, and in Leicester a freehold building comprising 20 student flats sold for £1.74m following competitive bidding, which started at £1.4m.
Richard Adamson, managing partner and residential auctioneer at Allsop, said: “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. 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.”
