Allsop Release Their Largest Commercial Auction Catalogue Since October 06 (16/11/2009)
Investing in property is currently bringing around ten times the return on cash deposits..
For their last sale of 2009, Allsop have released their largest commercial auction catalogue since October 2006, comprising of 173 lots.
Our December auction follows our highly successful October sale which now boasts a success rate in excess of 94% with approximately £84.5 million raised.
The results from October demonstrated the current strength of the market for good quality income, with spirited bidding leading to properties achieving prices close to and in some cases better than the high's of 2007. This is being driven by limited supply, historically low interest rates and cash rich private investors looking for improved returns.
George Walker, Partner for Allsop Commercial Auctions comments: "Private investors are receiving close to zero return on their cash deposits, which consequently means there has been a resurgence of interest in income producing property assets. Property owners are realising the potential of the market conditions and are coming forward to cash in on well let or Central London investments, which is reflected in the quality of our December Catalogue."
Investing in property is currently bringing around ten times the return on cash deposits, which are sitting around a rate of 0.6% where average yields on good quality investment property are 5.5 to 6.5%
The early signs are encouraging with high levels of interest already being shown via the 190,000 investors registered for our online catalogue.
Allsop are the only major commercial auction house to have held five commercial auctions in 2009. We have raised approximately £366m, reflecting a combined success rate of 90.3%. To date we have exceeded our 2008 running total by 32%.
Some notable lots include:-
Lot 109 Eynsham - An historic Toll Bridge over the River Thames producing approximate gross income of £195,000 pa. Guide £1m to £1.25m.
Two prime shops let to New Look Retailers Ltd on• leases expiring in 2023 and 2024 located in St Neots (Lot 96) and Felixstowe (Lot 118). Guides £1.15m + and £950,000 to £1m.
7 first class freehold public house investments on• behalf of Enterprise Inns plc in St James (Lot 99), Temple (Lot 104), Primrose Hill (Lot 108), Fulham (Lot 114), Notting Hill (Lot 125) and City of London (Lots 120 and 129)
A total of 31 Lots located within London.
40 Bank Investments (almost 25% of the catalogue) situated throughout the UK.
To view the latest catalogue please click here
For further information please contact:
George Walker
Equity Partner
Allsop
DL + 44 (0)20 7543 6706
Email george.walker@allsop.co.uk