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Almost 200 lots sold at Allsop’s September auction

Monday 28th September 2015

Written by Gemma Fell

The auction house Allsop raised almost £50 million at its September residential sale, selling 190 lots, with many more in negotiation. 
 
The auction contained a varied catalogue of stock from across the UK, with lots ranging from £900 to £5.8 million. 
 
At this month’s auction, regulated tenancy investments remained as popular as ever, with a lot in Maida Vale let at £11,700 per annum to a regular tenant selling at over £1 million. The established corporate residential investors also competed strongly for assured tenancy investments at the auction. 
 
Good quality, income producing stock was also still very much in demand, whether located in London or other regions, which was evident at Allsop’s auction. Here, a block of 15 apartments, generating £70,000 per annum was sold off for just under £1m. 
 
However,  George Osborne’s announcement of stamp duty land tax changes last autumn have meant that there has been somewhat of a cooling effect on those properties worth more than £1 million, with Central and Greater London taking the bigger hits. 
 
Despite this, buyers were still chasing good locations where pricing showed value. A lot situated in London’s Ladbroke Grove with almost 3,000 square foot of land sold on behalf of a housing association for the very respectable price of £2.4 million. 
              

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