Allsop raised £47m at its June residential auction, achieving a success rate of 86% with 165 lots sold.
The highest value transaction at the auction was Westferry Studios at 90-162 Milligan Street in Limehouse. The freehold block, which comprises 27 live/work units and nine commercial units, was guided at £6m+ and sold for £6.6m.
Also in London, a self-contained, circa 1,530 sq ft two-bedroom apartment at 810 Wilshire House 2 Prospect Way, Nine Elms (pictured), sold for £1.6m.
Regional assets continued to perform strongly, underpinned by secure rental income. A substantial freehold detached building at 68 Southbourne Road, Bournemouth, comprising nine bedsitting rooms, a one-bedroom flat and a three-bedroom flat, and producing £80,699 per annum, sold for £805,000 against a £700,000+ guide price.
Richard Adamson, managing partner and residential auctioneer at Allsop, said: “Given the week began with political uncertainty following Keir Starmer’s resignation, which was unlikely to support broader market sentiment or confidence, this represents a particularly strong result. It highlights the resilience of the auction market and the continued depth of demand for residential assets.
“While ongoing uncertainty may lead some investors to take a more cautious ‘wait-and-see’ approach, our results show that many continue to identify compelling opportunities in the residential sector and are prepared to act. We are already preparing our July auction catalogue, which promises to be another substantial sale showcasing a wide range of attractive investment and development opportunities.”
