Allsop raises £32 million in May commercial auction

• Allsop sold a total of 54 lots, of which eight were sold at £1m
• The largest lot sold at auction was a shop in North Finchley, which sold for £1.77m
• Allsop’s next commercial auction will take place on 11th June 2025

Allsop, raised £32 million at its May commercial auction, representing a success rate of 76%.

The highest-value lot to sell on the day of the auction was a shop investment in North Finchley, with lapsed planning for eight residential units, which sold for £1.77 million. Prior to auction, Allsop facilitated the successful sale of a client’s mixed-use portfolio in Kingston-upon Thames - comprising three separate shop and office investments - which exchanged early in the marketing period. The portfolio sold for a combined price in excess of £3.5 million, demonstrating strong demand for value-add assets which offer redevelopment and active management opportunities.

The auction saw sustained investor appetite for well-located and well-let assets, with mixed-use lots continuing to attract strong interest - particularly those let at sustainable rents or offering potential to add value. Notably, buyers were willing to bid competitively and pay sharper yields for premium London assets, reflecting a continued push for quality and appetite for value-add opportunities. Allsop’s latest buyer survey revealed strong demand from both local and national buyers, with 100% saying they would like to buy again as well as a significant increase in those using finance (54%, up from 36% in March).

Alex Neil, Commercial Auction Partner at Allsop, said: “In today’s challenging market, accurate pricing is more important than ever. When properties are priced in line with market expectations, they generate strong and consistent demand, and our deep market insight and precise marketing advice enable us to deliver the best possible outcomes for our clients. As we look ahead, success in 2025 will continue to depend on realistic pricing and a strong grasp of market dynamics, which is something our experienced team continues to demonstrate.”

Commercial auction highlights include:

• Lot 3: Tooting – a well-located shop, entirely let to Vodafone Ltd until 2026, with redevelopment potential. Situated opposite Tooting Broadway Underground Station, sold for £1.05m (c. 5.25% NIY)
• Lot 10: North Finchley – a freehold shop investment with lapsed planning for eight residential units, sold for £1.77m (c.5.32% NIY) 
• Lot 21: Canterbury – a trade counter of 12,081 sq ft let on a lease renewal to Magnet Ltd at £110,000 p.a. until 2034, sold for £1.3m (c. 8% NIY)
• Lot 46: Maidstone - town centre restaurant let to Zizzi Restaurants Ltd on a lease expiring 2035, sold after auction in excess of £1,050,000 (c.8.5% NIY)

Allsop’s next commercial auction will take place online on 11th June 2025.