Phase one of the development sold quickly, with pre-dawn queues on launch day. Phase two – 36 homes – will now be sold only in the online auction run by Allsop.
Allsop says this is the UK’s first ever online-only auction for new build homes. They think it is set to change the landscape of off plan and new build purchasing.
Allsop say the transparency of the model – allowing investors to watch the selling process evolve with zero risk of gazumping or gazundering – will be key to its success.
According to Allsop’s Residential Auction Partner, Gary Murphy, “This new service provides a superior route of sale for new properties and will co-exist harmoniously alongside our traditional ballroom auctions. We identified a niche specifically in the new build market and felt strongly that there should be a simpler, more transparent, fair, convenient and certain way of investing in new homes. Seeing a 100% increase in internet bidding year on year at our live sale rooms we have developed a concept that we believe addresses a proven demand for an online marketplace and extracts absolute best value for both developers and our customers. Throughout the process, participants can rest assured that Allsop’s quality of service will be upheld with a live team contactable at any point for assistance.”
West Drayton Waterside is a canal-side development from Clearview Homes poised to benefit from the ‘Crossrail Effect’. The properties are within a five minute walk of West Drayton rail station where Crossrail services will begin from 2019 providing high speed access across London to locations including Paddington, the West End, Liverpool Street, Canary Wharf and Heathrow.
Following the rapid sell out of Phase 1 over a single weekend, Phase 2 of the development comprises 36 leasehold apartments.
CEO of Clearview Homes Stephen Murphy explains why they have opted to be the first developers to participate in the online-only auction. “When presented with the opportunity to be the first developers we didn’t hesitate. It is the perfect platform for our product which we believe will appeal to investors not just locally but nationally and even internationally. We know for sure that we will make sales on the day and achieve the best possible price and have absolute trust in the Allsop team and expertise to execute the auction in a fair and efficient manner. We feel sure that this will be the future and are excited to be a part of it.”