Allsop’s July 17th Commercial Auction includes Oval Development Site

• Catalogue includes 88 lots with value focused on London once again
• Includes the former Archbishop Tenisons School in Oval, comprising 52,119 sq. ft. over 1.2 acres – guided at £4.5m and 19 other lots guided at £1m or more
• Portfolio sales include four Drive thru investments let until 2041 with RPI increases and KFC (GB) Guarantee

Having transacted over £480m at auction this year, Allsop’s latest commercial catalogue has attracted one of the most high profile development sites in South London at The Oval, being marketed at £4.5m – and we are already fielding dozens of enquiries from Developers and Investors ahead of the auction. This follows the sale of 40/41 Pall Mall at £10.8m in June.

Other London Lots include the Pret a Manger opposite Clapham Common Underground station, lot 11 guided at £3.5m - £3.6m with a flat above.

Regional assets include a well let portfolio of four Drive thru investments that were so popular in the June auction, this selection is let for a longer term certain with fixed rental increases and all in Scotland.

Highlights from the sale include:

• Lot 26, Oval - adjacent to The Oval cricket ground, comprising 52,119 sq ft on a 1.2 acre site. Guide Price: £4.5m+ (£86 psf cap val)
• Lot 11, Clapham - Pret A Manger & 2-bedroom flat located opposite Clapham Common Underground station. Guide Price: £3.5m - £3.6m
• KFC Allsop July auction - Five KFC Drive Thru’s / Restaurants with reversions from 2041 and four benefitting from fixed rental uplifts. Guide Prices from: £600,000 – £875,000

George Walker, Partner and Auctioneer at Allsop commented
“The last auction before the summer will also give buyers the chance to invest into some stability in the UK, in an environment where a modest interest rate reduction now seems a reality before the end of the summer.

Our clients’ faith in entering these bigger lots will no doubt be rewarded as buyers seek out quality to
improve their portfolios”

Allsop’s next Commercial auction is July 17th 2024 and you can view the July catalogue here.