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Allsop’s November residential and commercial auction catalogues feature a combined 429 lots
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37 residential and 36 commercial lots are guided at £1m or above (with five commercial property lots guided at £2m+)
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The highest-value commercial lot is a shopping parade and office in Camden, guided at £8m+
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The highest-value residential lot is a house in Knightsbridge, guided at £5m+
Allsop has released its November commercial and residential auction catalogues, offering 429 lots with 73 guided at or above £1m.
The new residential catalogue includes a variety of attractive investments, with numerous opportunities across London, including in-demand locations such as Marylebone, Camden and Knightsbridge. Buyers looking to invest in residential property will be able to choose from a diverse mix of houses, apartments, blocks of flats, HMO’s, freehold ground rents and development sites.
The November commercial auction catalogue features a healthy mix of convenience retail, and industrial assets, as well as educational, pharmacy and medical premises across the UK, offering the usual breadth of options firmly associated with the Allsop brand.
Richard Adamson, partner and residential auctioneer at Allsop, said: “The past couple of months have been fraught with uncertainty both politically and economically, with the mini-Budget causing volatility in the stock market and affecting investor confidence. Despite that, our September auction demonstrated an impressive success rate of 83%, proving the strength and depth of the residential property market. We’re optimistic about the upcoming sale, and the early response we’ve received so far has been encouraging”.
George Walker, partner and commercial auctioneer at Allsop, said: “The volatility we’ve been seeing in the financial markets has undoubtedly affected the Q3 deal rate in the private treaty sector, however, the auction market has continued to trade in the three weeks since the announcement of the infamous mini-Budget, and we have not yet seen any signs of significant price adjustments. The upcoming auction will once again provide investors with appealing opportunities – we’re bringing a greater number of previously unavailable broken up portfolios as well as autocentres and industrial assets to the market, which is exciting.
“The effect Liz Truss’ departure will have on the market remains to be seen – it is indeed difficult to make predictions in such a fast-changing environment, but we remain hopeful that the November commercial auction will mirror the success of our September sale.”
Allsop raised over £125m at the September commercial auction (a success rate of 86%) bringing the total raised so far this year to £435m.
Highlights from the residential catalogue include:
- Lot 48 : a freehold mid-terrace house in Knightsbridge, comprising six bedrooms, two reception rooms, kitchen/dining room, utility room and three bathrooms, guided at £5m+, making it the highest-value lot of the catalogue
- Lot 70: a freehold building and land with planning permission granted for seven mews houses in Islington, guided at £3.5m+
- Lot 73: a freehold unbroken block with five self-contained flats in Fulham, comprising two one-bedroom and three two-bedroom flats, guided at £2.7m+
- Lot 43: a four-storey building and a vacant class E commercial unit with possible development potential (subject to consent) in Marylebone, guided at £2.65m+
Highlights from the commercial catalogue include:
- Lot 42: a well-located parade of five shops and an office with tenants including Starbucks, Fred Perry and Ray Ban (total rent of £393,250 per annum) plus a vacant shop and office, guided at £8m+ (GIY 4.9%)
- Kwik Fit Portfolio: 10 lots let to Kwik-Fit (GB) Ltd on leases expiring in 2042 (no breaks) with annual uncapped RPI rent reviews until 2030. Guided at £725,000+
- Boots Portfolio: a nationwide portfolio of 19 pharmacies, let to Boots UK Ltd. Guide prices range from £110,000 to £1.7m+
- Medivet Portfolio: 16 veterinary surgeries let to Medivet Group Limited, many with residential upper units or future development potential. Guide prices range from £240,000 to £1.3m+
- Nurseries: three well-located nurseries let on new 25-year leases (no breaks) with CPI linked rent reviews. Guide prices range from £850,000 to £1.35m
Allsop’s next commercial auction will be held virtually on 1st November, while the November residential sale will take place on 3rd November
