Allsop’s final commercial auction of the year on December 5th will offer 151 lots with guide prices of up to £3.4m. Over 40 lots – more than a quarter of the December catalogue, are priced at £1m and above.
This is consistent with the auction room throughout 2017, which has seen a record number of high-value lots offered in the wake of strong demand from private investors, who spent £156.5m at the last sale in October. This included the highest value lot sold so far this year – a high street retail asset at £7.275m.
The total income from the auction catalogue is £9m per annum and features 53 lots within London and the South East. December’s auction room will also offer 11 bank and 12 office investments.
This includes lot 6, an attractive Grade II listed building on Shoreditch High Street, guided at £2.9m. This former NatWest Bank comprises 7,855 sq ft and is located on the doorstep of Shoreditch High Street Overground station. The site is anticipated to be popular in the auction room with more than 25 parties having already expressed interest.
Lot 22, a freehold industrial investment in Reading, is let to seven tenants at £192,171 and is guided at £2m – £2.25m. This substantial investment is one of eight industrial assets on offer.
Strong lots in excellent locations in the regions are also anticipated to be popular. Lot 82 on Deansgate, Bolton, offered on behalf of Knight Frank Investment Management is guided at £3.4m – £3.6m. Currently let at £186,571 to NatWest Bank until 2037, the site boasts an excellent town centre location.
George Walker, Partner and Auctioneer, said: “The commercial auction total for the year stands at £512.2m and despite the recent rise in interest rates, high net worth investors from the UK and overseas remain keen to invest in this high yielding sector.
“Consistent with 2017 to date, December’s auction room will feature a high number of large value lots as the depth of demand from private investors continues.”
The auction will take place on Tuesday December 5th at The Berkeley, Wilton Place, Knightsbridge, London, SW1X 7RL.
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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