Allsop has released the catalogue for its second commercial auction of the year, which will be held on 27th March at Claridge’s, Brook Street, London, W1K 4HR.
The 161 lots provide a total income approaching £8.5m per annum and range in lot size from £5,000 to £4.4m. Properties from across the UK will be sold at the auction, 30% of the lots are in London and the South East, and 32 lots have guide prices in excess of £1m.
The catalogue, which can be viewed online, includes 95 retail assets, 8 office properties, 8 industrial lots, 8 bank investments, 3 ground rents and numerous mixed-use, leisure and alternative assets.
Duncan Moir, Partner and Auctioneer, said: “In a low interest-rate environment where higher rates of tax are hitting returns for residential buy-to-let investors, the commercial property market is becoming increasingly attractive. Increased interest from cash-rich buyers is prompting more instructions from sellers. With March’s auction offering such a broad spread of opportunities, we expect a busy room later this month.”
The sale will begin at 10am and the afternoon session will begin at 2pm with lot 80.
March auction highlights include:
- Lot 18, East Grinstead – Three shops, offices, two flats and a maisonette. Tenants include Vision Express and Blacks (trading as Millets). Total rents are £68,500pa plus two flats with vacant possession. Guide Price: £1.1m – £1.2m
- Lot 80, Stow-on-the-Wold – An attractive, Grade II-listed building entirely let to Lloyds Bank plc at £53,700pa until 2022. Guide Price: £800,000
- Lot 83, Chesterfield – a modern, freehold drive-thru restaurant adjacent to the M1 motorway and let to McDonald’s at £90,000pa until 2032. Guide Price: £1.6m+
- Lot 92, London W1 – An attractive freehold leisure investment in London’s Greek Street, let to Pizza Express, and currently providing rental income of £175,000pa. Guide Price: £4.4m+
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
For details visit www.allsop.co.uk
- Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date at which the guide price, or range of prices, is published.
- The reserve price is the minimum price at which the property can be sold.
- Both the guide price and the reserve price may be subject to change up to and including the day of the auction.
For further information or supply of images
Redleaf Communications on 0207 382 4720 or firstname.lastname@example.org