Allsop Commercial Auction releases a London-centric June catalogue

• June auction catalogue released with 85 lots across the UK with 12 in London
• 40/41 Pall Mall, lot 27 is the largest lot at £10.5m+
• Other portfolio sales include five drive thru investments let until 2040 with RPI increases and KFC (GB) Guarantee

The latest commercial auction catalogue has a strong London content with 12 lots being offered in Central London including Mayfair, Marylebone, Farringdon, and Pall Mall at an average of £2m, all from different Vendors.

Of the balance of lots spread across the rest of the UK, about a third have guides in excess of £1m with the total for the 85 lots of £77.5m, as we launch the catalogue for the June 11^th sale.

The wider market has responded to some of the larger sales that have been achieved already this year, amongst the £165m already sold and put their belief in the appetite of the Private Investor. These investors can be counter cyclical and is always ready to invest their cash.

Highlights from the sale include:

• Lot 27, 40/41 Pall Mall, St James – 9,088 sq. ft. in two connected buildings already comprising two shops, offices and residential above
• Lot 9, 6 Dering Street, Mayfair – a former restaurant, now vacant of 2,551 sq. ft. over five floors
• Lot 42, KFC Drive Thru, Dorchester – to be let with the KFC GB Ltd guarantee at £110,000pa on a lease with RPI increases expiring 2044

George Walker, Partner and Auctioneer commented:

“We have seen the UK stock market taking on a new lease of life in recent weeks reaching record highs, and there is a sense that the property market could be entering its next phase as well – we know it will it is just a matter of when.

This catalogue gives buyers plenty of choice to test their appetite, from a quarterly rent cheque to long term value in Central London, so it will be an interesting to see how demand develops.

Buyers will have already built in a new regime in Downing Street from July so are keen to get investing.”

The next commercial auction is on 11th June and the catalogue can be viewed here.