Allsop’s fifth commercial auction of 2017 will feature more than 40 high value lots offered at £1m and above, 14 of which are priced at £2m+ as the auction room responds to investor demand.
A growing number of high value assets across the country are due to go under the hammer on October 17th and 18th at The Berkeley, Knightsbridge, as vendors seek to capitalise on strong investor appetite and the liquidity of the auction room. Sellers include a major fund, who are liquidating a portfolio of High Street assets, with 24 lots in this auction and more in December.
The total income from the auction catalogue is £14,500,000pa, and features almost 300 lots, the majority of which are retail assets. October’s auction will also include 21 bank investments, 12 industrial and 11 office investments at a wide variety of prices.
This ranges from lot 105, a high street retail investment let to Marks and Spencer until 2027 in the heart of Bishops Stortford at £7m to lot 287, a plot of freehold land of 0.82 acres with redevelopment potential in Hemel Hempstead guided at £150,000+ and a parcel of UK wide ground rents entered at nil reserve, lot 274.
The auction will also feature 111 lots in London and the South East, such as lot 195 the vacant former Natwest Bank on Shoreditch High Street guided at £2.9m and lot 9, Maker Trading Estate in Norbury, South London, comprising 25,000 sq ft on 1.1 acres, let at £180,846pa and guided at £3m+. The site is already attracting good interest among early investors.
George Walker, Partner and Auctioneer, said: “The commercial auction room has remained robust and resilient in tough market conditions with upbeat investors seeking to make the most of auction liquidity. This catalogue offers a large number of high value lots, again demonstrating the sophistication and depth of spend in the auction room and positive buyer sentiment. With lots already attracting interest, we anticipate a busy two-day auction this October.”
The auction will take place across two days between October 17th and 18th at The Berkeley, Wilton Place, Knightsbridge, London, SW1X 7RL.