Allsop banks on £1m-plus and PDR lots at next sale

Allsop has launched a bumper 229-lot catalogue for its next residential sale that is 18% larger than its September 2016 catalogue.

At the 2016 auction, Allsop sold 155 of the 194 lots offered, raising £58m and reflecting an 80% success rate.

Twenty-one lots have been priced at £1m or above and include a handful of offices with permitted development rights (PDR) for conversion into residential.

The star lot is a three-storey office in Kingsbury, north London, which is being offered with a reserve price of £2.5m. Covering 9,633 sq ft, it has PDR permission for conversion into 17 flats.

Another lot expected to attract interest is a cluster of buildings comprising a 22,572 sq ft office and seven warehouses in Bedfordshire. The lot is offered at £1.75m and has permission under PDR for conversion into 39 apartments. It can be bought alongside another lot, an adjoining two-acre vacant plot, for a guide price of £2m-plus.

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“The September catalogue offers a wide variety of attractive lots including high-value assets and strong investments in the regions,” said Richard Adamson, partner and auctioneer at Allsop. “There are some exciting development opportunities in desirable locations UK-wide, including lots with planning permission and PDR granted, both of which are likely to prove very popular in the auction room.”

Adamson added that another lot, a building comprising 24 apartments in Goring-by-Sea in West Sussex guided at £1.1m, was “already generating significant interest”.

Also breaking the £1m barrier are a three-bedroom flat in Earls Court, which is guided at £2m, and a six-bedroom house in Teddington, which has a guide price of £1.6m.

The auction will be held on 14 September at The Cumberland Hotel on Great Cumberland Place, London.

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