Allsop's Residential Auction Team continued their success with 175 lots sold, raising £71.2m in their latest auction of 2015.

The auction, held at the Cumberland Hotel on Thursday 29th October, had a 75% success rate, with an average lot size of £407,000.

Auctioneer Richard Adamson commented: "The appetite for properties located in Central London is still as strong as ever, but as always this is price sensitive. It would also seem that both buyers and sellers are more accepting and comfortable with the new stamp duty thresholds."

"The proposed changes to the General Permitted Development order have resulted in renewed interest in buildings with Permitted Development rights. There were a total of five lots in the catalogue which all generated huge levels of interest pre auction and were all subsequently sold prior to the sale to developers."

A highlight of the auction was Lot 21; 7 Empire House, Thurloe Place, Knightsbridge – a two bedroom third floor flat in an attractive mansion block which sold for £3.33m.

A further successful sale was Lot 29; 7/8 Welbeck Street, Marylebone – two virtual freehold Central London buildings which sold for £5.95m.

Allsop's next residential sale will be held on Thursday 17th December at the Cumberland Hotel, Great Cumberland Place, London W1.