Allsop raises £38.5 million at first commercial property auction of 2025

• Largest lot sold was a postal sorting office in east London for c. £4m
• 74% of lots sold were retail including the White Rose Shopping Centre in Rhyl for £2.11m
• 10 commercial lots were sold at +£1m
• Allsop’s next commercial auction will take place on 20^th March

Allsop, the leading property consultancy and the UK’s largest property auction house, raised £38.5 million at its first commercial auction of 2025, representing a success rate of 83%.  

The highest-value lot – a postal sorting office in Leyton, East London – sold for c. £4 million. Other lots included a mix of commercial and mixed-use investment and development opportunities across the UK.

Allsop’s auction teams concluded 2024 raising over £1 billion from both residential and commercial sectors, despite political and economic turbulence and slower-than-expected interest rate cuts.

George Walker, Partner and Commercial Auctioneer at Allsop, said: “This was a very positive start to the year, particularly on the day that interest rates were cut to 4.5%, signalling the potential rebound of our high yielding market. As ever, we sold a significant range of assets, from mixed-use London parades to shopping centres and industrial estates, offering investors strong diversification opportunities for their cash. With investors clearly in the market with an eagerness to acquire commercial real estate, our first sale of the year suggests an encouraging outlook for the rest of 2025.”

Commercial auction highlights include:

• Lot 13: Ealing – a mixed-use parade comprising six shops with flats above, sold prior to auction in excess of £1.9 million (c.6.5% NIY)
• Lot 18: Portsmouth – a convenience store (t/a Spar) let until 20139 with fixed rental uplifts, sold for £554,000 (5.89% NIY)
• Lot 23: Nottingham – two shops let to Ann Summers and TUI UK Retail at £130,000 p.a., sold for £1.25 million (9.8% NIY)
• Lot 43: Leyton – a postal sorting office with redevelopment potential, sold prior to auction for c. £4m.
• Lot 45: Rhyl – a freehold town shopping centre, comprising 108,919 sq. ft, sold for £2.11 million (15.4% triple net yield)
• Lot 50: Willenhall – a multi-let industrial estate comprising 35,236 sq. ft, sold prior to auction in excess of £1.65m (c.8.7% NIY)

Allsop’s next commercial auction will take place online on Thursday 20th March 2025.