Allsop’s March commercial auction will offer 164 lots with a total income of over £6.5m. To be held on March 22nd, the auction will feature 28 lots offered at £1m+.
Fitzrovia is the home of the largest lot, this includes lot 88 an attractive mixed use property. Another London, mixed use and residential development opportunity is lot 83, a freehold shop let to Iceland with annual fixed increases until 2027 at £156, 776 pa and guided at £2.75m.
The catalogue, which is now live, features a broad range of assets, including 13 industrial, 13 ground rents, 13 bank and nine office investments from across the country. Among these, lot 34, an industrial investment in Manchester is anticipated to be sought-after. Comprising 11 units on a site spanning 2.2 acres and with the potential for redevelopment to residential, it is guided at £1m+.
A good range of ground rent investments, are also included in the March catalogue, which have traditionally been popular in the auction room. Lot 19, in Newport let on a 25-year lease, is the largest ground rent asset in the catalogue, at £1.6m+
Investors are currently paying a premium for longer-let investments with regular increases and lot 97, a road side investment in Cromer, fits the bill well. Guided at £1.55m -£1.65m, it is entirely let to Martin McColl Limited until 2031 with no breaks and with rental increases of 10.4% every fifth year.
George Walker, Partner and Auctioneer, said: “The catalogue offers a wider mix of assets than usual; eleven per cent of all lots to be offered are long-let ground rents and eight per cent of lots are industrial investments. Both are likely to appeal to cash rich investors that are looking to diversify their portfolios.”
The auction will take place on Thursday March 22nd at The Berkeley, Wilton Place, Knightsbridge, London, SW1X 7RL.
Notes to editor
About Allsop auctions
Allsop run the largest property auction departments in Europe through two highly experienced residential and commercial teams and is the UK’s number one auction house by transactions. We offer a wide range of lots covering residential vacant and investment properties, ground rents, land and development opportunities and secondary commercial lots. A minimum of six commercial and seven residential sales are held every year. Visit: http://www.allsop.co.uk/our-services/auctions/selling-at-auction/
Allsop is an independent property consultancy with a market-leading reputation for high quality service and integrity, covering the UK from our offices in the West End, the City, Leeds and Brighton. In addition to our position as the UK’s largest and most successful property auction house, we offer an extensive range of services for residential, commercial and mixed use property.
We have the people, the skills, the experience and the drive to maximise value for our clients in any given market and like to do business in our own distinctive Allsop style – open, friendly and honest. Clients appreciate this, which is why so many stay with us over the long term.
In an unpredictable world, Allsop remains a reassuringly constant source of market knowledge, insight and expertise. Visit: www.allsop.co.uk
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