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Allsop Commercial Auction Team gears up for final Auction of 2023
The Allsop Commercial Auction Team is preparing for its eighth and final Commercial Auction of 2023. Scheduled to take place online on Tuesday 12th December, the auction will offer a total of 91 lots with a total income from all the lots to exceed £7.85m per annum.
The team's last sale in October raised £66.7m which brings the year-to-date totals to an impressive 588 lots sold and over £380m raised, demonstrating an overall success rate of 90%. The December Auction continues this trend of high-value offerings with 24 lots guided at or in excess of £1m, including four that are in excess of £3m.
Vendors for this auction include renowned entities such as Tesco plc, Bournemouth Council, several major Funds, and a multitude of private property companies and investors. The auction as always features a wide range of properties, catering to various investment appetites.
Among the auction's highlights are the largest lots being
- Lot 14, WH Smith Chiswick, let at £152,500 p.a. Guide Price: £2.25m - £2.3m (6.8% GIY) Lot 14 - Chiswick
- Lot 40 - Rochdale Exchange Shopping Centre, 284,000 sqft, guided at £3.5m+ Lot 40 - Rochdale,
- Four Tesco Express sale and leasebacks to be let on new 15-year leases, offered at Guide Prices from £800,000+ Four Tesco Express
- A portfolio of 5 Industrial Ground Rents on behalf of Bournemouth, Christchurch and Poole Council will be on offer, each let on a reviewable lease with expiries from 2077, and Guide Prices ranging from £100,000+ to £750,000+. Portfolio of 5 Industrial Ground Rents
George Walker, Partner and Auctioneer, expressed optimism about the upcoming auction, “vendors are responding positively to the market dynamics by offering lots at realistic price points as the market continues to evolve. Buyers are showing keen interest in the assets on offer and we anticipate a strong end to the year.”
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The Allsop Commercial Auction Team is preparing for its eighth and final Commercial Auction of 2023. Scheduled to take place ...
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