Allsop raised £50m at its two-day July residential auction, achieving a success rate of 84% from the sale of 195 lots.
582 Harrow Road, Maida Hill, London, NW2
The highest-value asset to go under the hammer was a freehold, mixed-use three-storey corner building in Maida Hill, north London, comprising four flats, two shops and a workshop, which sold for £1.205m.
The property produces £131,400 in annual rental income and the sale reflected a gross initial yield (GIY) of 10.9%.
Meanwhile, a freehold building in Lancashire with 10 freehold, self-contained flats, producing an annual rent of £173,015, fetched £790,000, reflecting a GIY of 12.51%.
Allsop has also launched its 20 August residential auction catalogue, featuring 155 lots across England and Wales.
The standout property at sale will be a duo of freehold, semi-detached buildings with six flats in Norwood, south London, bringing in a yearly rental income of £134,940, which is guided at £1.35m- plus.
Allsop partner Jimmy Bruce said: “Our July results demonstrate that capital is still very much active in the market, and we are pleased to launch a substantial August catalogue of 155 lots that provides buyers with a wide range of opportunities.
“While the market remains challenging in places, we continue to see that correctly priced stock is being well received by buyers. Investor demand remains resilient, particularly for value-add and asset- management opportunities, with a notable focus on assets offering income.
“The August auction is expected to attract strong interest from both new and established investors, as buyers continue to target opportunities that offer income generation, repositioning potential and long-term value creation.”
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