Allsop’s third commercial auction of 2017 will see 179 lots – the highest number so far this year – auctioned on 23 May at The Berkeley, Wilton Place in Knightsbridge, London SW1X 7RL from 10am.
The catalogue, which can be viewed online, has a wide range of substantial commercial investments from a Waitrose in Melksham, Wiltshire, to a rare Grade II listed centrifuge facility in Farnborough, Hampshire.
There are also assets for a variety of budgets, including a parade of shops and flats in Gunnersbury Avenue in Acton, west London,priced from £200,000 and Lot 115, a shopping centre in Newcastle under Lyme for £4m. The shopping centre is one of 44 lots offered above £1m – which represents almost a quarter of all lots offered at May’s auction. This is part of a continuing trend of larger lots coming to the auction room amid strong interest from UK and overseas investors.
Assets offering high yields are expected to remain popular. This includes investments such as Lot 125, a shopping mall in South Shields providing a yield of 12.04%. It comes complete with a bingo hall and is part of the South Shield’s centre which is currently undergoing a £100m regeneration programme.
George Walker, Partner and Auctioneer, said: “Our May commercial auction has a wide range of investment opportunities with highlights ranging from a store let to Whole Foods in Stoke Newington to a Waitrose in Melksham, both providing investors with exposure to strong sectors in good locations, and long-term income. Investors continue to seek income from their cash reserves and we anticipate a busy auction room on 23rd May.”
Auction highlights from the catalogue includes:
- Lots 11, 12, 13, 19, 20, 24 & 31 – Acton, London Seven well located shops, six with large maisonettes let on AST’s, close to Acton Underground Station, and Acton Mainland Station, which will have Elizabeth Line (Crossrail) services from 2019, to be offered as seven individual lots. Guide prices starting from: £200,000
- Lot 94, Stoke Newington, London Located in fashionable Church Street in Stoke Newington is this shop, let at £138,200pa, rising to £151,950pa in 2020, guaranteed by Whole Foods Market Inc. until 2030 without a break. Guide price: £2.1m – £2.2m
- Lot 100, Melksham, Wiltshire Located in the affluent market town of Melksham, the freehold 2.27-acre site has a Waitrose, providing rent at £235,000 pa. Guide price: £3.25m
- Lot 115, Newcastle under Lyme, Staffordshire Prominent town centre shopping centre with tenants that include Next, Argos, Clarks, Iceland and Burton/Dorothy Perkins. Total gross rents £486,632pa. Guide Price: £4m
- Lot 125, South Shields, Tyne and Wear Located in South Shield’s centre, which is undergoing a £100 million regeneration programme, is a long leasehold leisure investment, comprising a shopping mall and bingo hall with parking. Current gross rent is at £300,909 pa. Guide price: £2.5m – £2.7m
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
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