A mansion block in the Marylebone area of west London sold for £4.75m in Allsop’s second residential auction of the year, which generated a total of £46m.
The building at 105 Hallam Street, a freehold mansion block of 79 occupied flats and producing rent of £306,000 a year, also includes three empty flats and three vacant stores. The building was the home of noted Hungarian musician Cecilia Vajda for 30 years until her death in 2009.
The February auction, which took place last week, also featured a former NHS health centre and site with development potential at Vicarage Fields Health Centre in Barking, Essex, that made over £1.2m.
Allsop said the auction, which comprised 152 lots, achieved an 84% success rate, with seven lots selling for more than £1m, “underlining continued interest in high-quality residential investment opportunities across the country”.
Richard Adamson, managing partner and residential auctioneer at Allsop, said: “The market continues to present challenges, as investors adapt to evolving conditions and evaluate the potential impact of the [Renters’ Rights Act] on their long-term strategic objectives.”
Allsop’s next residential auction will take place on 25 and 26 March.
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