Allsop’s Commercial Auction Team raised £44.3M from the sale of 55 lots across the UK

• Largest lot sold at over £7,600,000, an unbroken parade on Seven Sisters Road, London N15
• Average lot size £805,000 across the 55 lots sold
• 14 lots sold for £1m or more

Whilst Capital Markets volumes remain subdued and transaction times keep extending, Allsop’s auction buyers competed hard on a wide array of lots in all sectors and bought 55 lots.

The biggest lot to sell was an unbroken parade of 9 shops and flats in Seven Sisters Road, catalogued individually but sold as one, proving that in this case the long-term value was best exploited by leaving it whole, giving the new owner the advantage of critical mass.

London’s appeal was clear as part of the rush to quality with the competition intense on lot 14, Queensway, a shop and residential asset offered vacant, and sold at £2,215,000 - £733 psft

Regional investors fought hard to secure lot 13, a new ASDA in Sutton Coldfield which was built by the seller and offered with a lease at £70,000pa with CPI increases, expiring 2037. Six bidders competed for the lot which sold at £1,260,000 5.2% net.

George Walker at Allsop, said:

“The market is still very hard to read as talk of falling rates recedes, buyers are chasing quality and opportunity and are prepared to compete for the right assets.

The total of £45m was made up of a wide range of opportunities from investment grade convenience stores to mixed use retail and industrial investments and even some development sites from National Grid.

The ambition and cash resources of the buyers is clear as they are prepared to move quickly for the right opportunity giving them and the sellers great certainty in a three-week timescale.”

Our next auction is on June 11^th 2024.