Auction Results - ALLSOPS

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ALLSOP RESIDENTIAL AUCTIONS CONTINUE TO BUCK TREND WITH £56M (88%) TWO DAY SALE ON 13 AND 18 FEBRUARY
Highlights
Total Raised
£56.24m
Total lots Sold
320
Success Rate
88%

Average Yields
Regulated Tenancies
4.35%
Assured Tenancies
5.45%
Assured Shorthold Tenancies
6.01%

Despite gloomy economic forecasts and continued uncertainty in the financial markets, Allsop Residential Auctions have concluded a major two day auction at the Caf! Royal (13 February) and the Cumberland Hotel, London (18 February). Raising a total to date of over £56m, 88% of all lots on offer were sold. Clients included BRB (Residuary) Ltd (16 lots all sold), the Metropolitan Police Authority, 11 Housing Associations, 4 London Boroughs as well as a variety of property companies, charities, building societies and banks.
Commenting on the result, Auctioneer and Partner Gary Murphy said, "This sale proved that the market for realistically priced residential property remains very keen. Lots sold comfortably over reserves on both days with sale rooms well attended. Media interest in the growing numbers of repossessions in the market was manifested in a number of TV film crews attending. Approximately 40% of the lots in the catalogue were offered for distressed sellers, ie. mortgagees or receivers. The proportion has doubled since this time last year. But this has proved to be to the advantage of first time buyers who are now benefiting from an increased choice of affordable stock."
Notable lots from the sale include:
Lot 10 - 2 Rectory Grove, Clapham, London SW4
Offered for the London Borough of Lambeth, this Freehold Grade II Listed former community centre sold for £1,400,000.
Lot 110 - Flat 6, 21 De Vere Gardens, Kensington, London W8
A superb first floor split level maisonette of around 1665 sq ft, largely unmodernised and offered with vacant possession on behalf of Mountview Estates. Sold for £1,925,000.
Lot 117 - 9, 9A and 9B Scampston Mews, North Kensington, London W8
A Freehold Vacant Mews Building, also for Mountview, extending to nearly 2000 sq ft with potential. Sold for £750,000.
Lot 179 & 180 - Park Avenue, Middlesex
Two freehold sites comprising a builder's yard and depot sold separately for £1m and £530k respectively.
Lot 320A - 4 The Priory, Leamington Road, Princethorpe, Rugby, Warwickshire
An attractive Freehold Barn Conversion sold on behalf of Halifax as mortgagees for £440,000.
[FONT=Arial, Helvetica, sans-serif]Allsop's next residential auction will be on Wednesday 26 March at the Cafe Royal, 68 Regent Street, London W1B 5EL. List to close Monday 3 March.[/FONT]

Trollfever

I guess that some BTL landlords would dream about these yields.

Average Yields
Regulated Tenancies
4.35%
Assured Tenancies
5.45%
Assured Shorthold Tenancies
6.01%

subjecttocontract

Media interest in the growing numbers of repossessions in the market was manifested in a number of TV film crews attending.

I guess this means we are in for a glut of property related programmes in the coming weeks ?

Groan, groan......

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Trollfever wrote: »

I guess that some BTL landlords would dream about these yields.

Average Yields
Regulated Tenancies
4.35%
Assured Tenancies
5.45%
Assured Shorthold Tenancies
6.01%

...........and there are many others who wouldn't be interested in such a low yield. Try reading the best selling book "The Buy to Let Bible" by Ajay Ahuja. Best laugh I've had for ages.

Trollfever

Without HPI and before interest charges and other costs my landlord makes 3.75% on his capital investment!

mdj1

I watched with interest as lot 112 a 4 bed town house in dunmow sold for £179k, was bought 3 years and 8 months ago for £250k and 2 bed flats in the same street are on the market for £189k!

Ohh how times have changed!

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mdj1 wrote: »

I watched with interest as lot 112 a 4 bed town house in dunmow sold for £179k, was bought 3 years and 8 months ago for £250k and 2 bed flats in the same street are on the market for £189k!

Ohh how times have changed!

There is probably a lot more to it than JUST price drop.

Did they pay over the top for it originally ?
Is it a repossession ?
Does it need refurbishment or modernising ?
Has it been left in a terrible mess ?
Does it require structural work ?
Is it affected by adverse planning ?
Has the property been developed/ split or had some land sold off ?
etc etc.

......and its amazing how much value can be wiped off of a property by people who don't look after them.

lynzpower

STC this is the 2nd time youve posted this info ?

What interest do you have in Allsops auctions? You dont work for them do you?

Seems very odd that you would post the same thing twice

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lynzpower wrote: »

STC this is the 2nd time youve posted this info ?

What interest do you have in Allsops auctions? You dont work for them do you?

Seems very odd that you would post the same thing twice

There were 2 auctions ....one on Feb 13th and one on Feb 18th....hence the 2 posts
No connection between me & Allsops. Although I'm a regular auction buyer I've never been to an Allsops auction.

There seems to be a lot of posts on property price falls so I just wanted to add some balance to the discussion. Although there seems many on here who get annoyed if someone disagrees with them. Oh well......it takes all sorts.

lynzpower

Oh cos both times you have mentioned the property in Rectory grove clapham, which I know well.

Was it sold twice then

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lynzpower wrote: »

Oh cos both times you have mentioned the property in Rectory grove clapham, which I know well.

Was it sold twice then

I think you must be confusing me with someone else......I've never specifically mentioned a property in Clapham.