Allsop raises over £26m in May commercial auction

• Allsop sold 39 lots at its May commercial property auction, reflecting a success rate of 85% with £26.5m raised
• The largest lot sold was a town centre retail property in Guildford, which sold prior to the auction for £3.1m
• A total of eight lots sold for £1 million or more, while 12 lots achieved prices at least 10% above their reserves
• Allsop’s next commercial auction will be live streamed on Wednesday 10th June

Allsop has delivered a strong £26.5m result at its May commercial auction through the sale of 39 lots, with an 85% success rate.

The highest‑value transaction was a prominent and well‑located town centre retail property in Guildford (Lot 14) which sold prior to the auction for £3.1m, reflecting a net initial yield of 9.3%. The average lot size was £679,846. Of the lots sold, 76% were located outside London and the South East, accounting for 51% of the total sales value. The retail sector remained dominant, representing 76% of lots sold and 75% by value. Overall, 80% of lots sold at the auction achieved prices in excess of their reserves, with an average overage of 22%.

Allsop’s latest buyer survey revealed strong demand going forward, with 100% of respondents confirming they had bought at auction before and expressing an intention to purchase again. Notably, 85% of buyers stated they were using cash to complete their purchase, highlighting the continued depth of experienced private capital active in the commercial auction market.

This auction brings Allsop’s commercial auction sales for the year to £132m from the sale of 169 lots, reflecting an overall success rate of 89%, including 46 lots sold for more than £1 million.

Alex Neil, Commercial Auction Partner at Allsop, said: “Despite the backdrop of ongoing political and economic uncertainty, the result from our May auction demonstrates that when pricing is realistic, buyers are prepared to look beyond the headlines and take a long‑term view. We continue to see strong participation from experienced cash buyers and clear demand for well‑located retail and regional assets. With encouraging buyer sentiment and a healthy pipeline ahead, we remain optimistic for the remainder of the year.”

Auction highlights include:

• Lot 8: Mold - A freehold supermarket investment let to Farmfoods Limited on a new 10-year lease sold for £1.45m (c.6.5% NIY)
• Lot 13 Limehouse, London – A freehold convenience store investment let to Tesco until 2034 sold for £1.475m (c.6.1% NIY)
• Lot 14 Guildford - a town centre retail property let to Urbn UK Limited until 2028 sold for £3.1m (c.9.3% NIY)
• Lot 20 Ilfracombe, Devon – a multi-let industrial site totalling c. 8,000 sq ft let to various tenants sold for £950,00 (c.8% NIY)
• Lot 22 Treorchy, South Wales - a self-contained industrial and office accommodation totalling c.91,206 sq ft let to various tenants sold for £1.6m (c.15.7% NIY)
• Lot 25 Eltham, London – a retail and residential parade investment Comprising 4 shops and 4 flats (2 let on long leases) sold for £1.135m (c.7.1% NIY)

Allsop’s next commercial auction will be on Wednesday 10th June.

For a quick summary of the auction results - watch our short results video (on LinkedIn), presented by Doug Guild and Charlie Harrocks.