94 lots on offer at first Allsop commercial auction sale of 2024

• Auction sale will take place on Thursday 8^th February
• 94 lots on offer at first Allsop commercial auction sale of 2024
• Over 40% of the lots on offer are in London and the South East
• 20 lots have guides at or in excess of £1m, three of which are over £4m
• Total income from all the lots on offer is in excess of £6.39m p.a
• Six lots are being offered on behalf of Receivers

Allsop Commercial Auctions have launched the year with the release of 94 lots in their February catalogue.

The sale will take place online on Thursday 8^th February and it contains a wide range of well-priced properties, with guides ranging from £6,000+ to £7m. Sellers include Tesco, Farmfoods, My Dentist, Various Trustees, Columbia Threadneedle and numerous other Funds, Property Companies and Private Investors.

George Walker, Partner and Auctioneer, commented “After a stronger end to last year we are pleased to release our first catalogue of the New Year, with a bias towards some larger lots, continuing the trend from Q4 last year.

The largest is Larkswood Retail Park, Lot 26 in Chingford, guided at £7m, an office in the heart of the City of London Lot 16 Lovat Lane EC1 guided at £4.25m+ and a Nuffield Gym, Lot 18 in Stoke Poges guided at £4.3m+. The market has plenty of choice across these three sectors alone in which to invest.

With the continued easing of long-term inflation and the pressure now to reduce interest rates and tax in the March budget, we believe that there are reasons to be optimistic about the year ahead.”

Other February sale highlights include:

• Lot 11, Ealing W13 - a mixed use parade comprising six shops and eight flats. 150m from Northfields underground station. Guide Price: £2.25m - £2.5m (6.2% GIY)
• Lot 17, Baker Street W1- a mixed use property with dev potential comprising 6,360 sqft.  Adjacent to Pret and Sainsburys. Guide Price: £3m - £3.25m+ (6.3% GIY)
• Lot 21, Gateshead -a purpose built supermarket let on a new 20 year lease (no breaks) to Farmfoods at £100,000 p.a. Guide Price: £1.25m+ (8.0% GIY)
• Lot 28, Bradford -an Industrial Estate comprising 5 units totalling 23,805 sqft and let at a total of £111,360 p.a.  Guide Price: £1.4m+ (£58 psf cap val)
• Lot 35, Carmarthen – a modern drive thru let to Greggs PLC until 2037 (no breaks), adjacent to McDonalds. Guide Price: £1.2 - £1.3m (7.1% GIY)
• Lot 36, Cheltenham - a shop let on a new lease to Der Touristik UK Ltd (t/a Kuoni) at £85,000 p.a. Guide Price: £1.2m (7.1% GIY)

The commercial auction team concluded 2023 with another positive year with 660 lots sold (124 over £1m), total sales in excess of £442m and an overall success rate of 89%. For more insight on what we learnt about the market and where we think the opportunities may lie in 2024 read our commercial auction outlook 2024.