- Allsop’s latest commercial auction in June raises £25.9m
- The highest value investment, lot 8, was a prominent freehold bank investment in Derby, which sold for £2.1m
- 43 lots sold in total
Allsop has raised more than £25m at its first June commercial auction in 20 years, taking its lockdown commercial auction tally since mid-March to £107m. A number of investment opportunities were available from high street shops, freehold convenience stores, public houses and retail warehouses throughout the UK.
George Walker, Partner and Auctioneer at Allsop said: “The wider market is yet to really recover its momentum since lockdown began. Having said that we pleased to have exchanged on over 160 sales since the end of March, bringing our total during the lockdown period to £107m."
At the June auction, the buyer base was as wide as ever: private investors were clearly enticed by the higher yields on offer after several months of pent-up demand. Once again, we saw a large volume of both corporate and private tenants buying their tenanted properties, clearly demonstrating their belief in the forthcoming recovery.”
Highlights include:- Lot 2, St John Wood, London – a freehold restaurant investment on popular Abbey Road sold at £950,000 with a NIY of 6%
- Lot 12, Stockport, Cheshire – a freehold warehouse investment let to Topps Tiles sold after, off a guide price of £1.3m
- Lot 14, Sutton-in-Ashfield, Nottinghamshire – a freehold warehouse investment let to Halfords and Papa John’s until 2027 and 2035 respectively, which sold prior off the guide price of £1.65m
Allsop will be hosting its next online commercial auction on 21st July.
