Allsop releases November commercial auction catalogue with 100 lots on offer

• Allsop’s latest commercial auction catalogue features 100 lots across the UK, following success of its September commercial auction which raised £55m
• 21 lots are guided at £1m or more, with the largest lot being a prominent freehold central London office investment, guided from £5.25m - £5.5m

Allsop, a leading property consultancy and the UK’s largest property auction house, has released the catalogue for its upcoming commercial auction, offering 100 lots with more than one in five (21) guided at £1m or more.

The catalogue features a wide range of investment and development opportunities across the UK, with a concentration of value in London and the south east. The size of the latest catalogue is in response to the strong pricing achieved in Allsop’s September commercial auction sale, which has now raised £55m, bringing the year-to-date total to £357m for commercial auctions alone – with two more scheduled before the end of the year.  

George Walker, partner and commercial auctioneer at Allsop, said:

“It appears as though all eyes are on the Chancellor’s budget on October 30th, which investors may see as a turning point in the market where yields might well compress. We therefore expect buyers to be interested in this catalogue and its wide range of stock, with a Holborn office building being the largest, as well as several industrial and retail assets across the country. We anticipate a strong end to the year as tailwinds give investors further confidence.”

Auction highlights include:

London lots

• Lot 16 – Holborn, London – a freehold office investment totalling 14,227 sq. ft, let at £413,250 p.a. until 2025 with future redevelopment potential, guided from £5.25m+  - £370psft and 7.9% GIY
• Lot 7 – Kensington, London – a mixed-use investment comprising a restaurant, shop and 4 flats totalling 5,019 sq. ft, guided from £2.9m (£587 per sq. ft)

South East

• Lot 18 – Windsor, Berkshire – a residential and restaurant investment, let to Franco Manca until 2037 with 3 flats let on ASTs close to Windsor Castle, guided from £2.1m+ (7.5% GIY)
• Lot 31 – Frimley, Surrey – an unbroken parade of shops with residential above, with 5 shops and 8 flats and lapsed consent for 4 additional flats, total rents: £200,424 p.a. plus 2 vacant maisonettes, guided from £2.5m+ (8% GIY)

Retail sale and lease-backs

• Lots 37, 46, 48, 51, 53, 56 – six supermarket investments lots across the UK, let to Heron Foods Ltd on new 20 year leases with CPI linked increases, guided from £430,000 - £440,000 to £640,00 - £660,000
• Lot 15 – Barnsley, South Yorkshire – a modern supermarket, let to Farmfoods Limited on a new 20-year lease (no breaks) at £120,000 p.a., guided from £1.6m+ (7.5% GIY)

Industrial investments

One of three lots on behalf of a listed REIT including:

• Lot 34 - Burton-on-Trent, Staffordshire – a freehold industrial estate investment totalling 29,513 sq ft, part let to Howdens Joinery, guided from £2m (8.4% GIY)

Allsop’s next commercial auction will be held online on 5^th November, and the complete catalogue can be viewed here.