Allsop Unveils Final Commercial Auction Catalogue of 2024

• Allsop’s latest commercial auction catalogue features 68 lots across the UK, with a combined guide price of £70m
• 22 lots are guided at £1m or more, with one the largest lots having been sold ahead of auction beating the £5.5m guide price
• Allsop’s post-Budget commercial and residential auctions raised a combined £91.8m despite the lacklustre announcement

Allsop, a leading property consultancy and the UK’s largest property auction house, has released the catalogue for its upcoming commercial auction, offering 68 lots with 22 guided at £1m or more. The lots on offer are marketed on behalf of a wide range of sellers, including funds and REITS, with the catalogue also featuring several sale and leaseback opportunities brought forward by Farmfoods and Funeral Partners.

One of the largest lots, a vacant long leasehold office on Grosvenor Street in Mayfair, has sold ahead of the auction, with the buyer having paid in excess of the £5.5m guide price.

Allsop’s commercial auction team raised over £54m from the sale of 63 lots at its latest November sale. This brings the total raised so far this year to £418m from the sale of commercial property, with 532 lots sold and 119 lots achieving prices in excess of £1m, reflecting an overall success rate of 89%.

George Walker, Partner and Commercial Auctioneer at Allsop, said:

“As investors look to diversify their commercial portfolios and secure strong income streams, our latest catalogue features a range of long-dated alternative assets, including nurseries as well as leisure and hospitality property and a unique ground rent investment opportunity walking distance from Aberdeen Airport. With the year drawing to a close, we look forward to our final commercial auction of the year which will undoubtedly see a flurry of investor activity, undeterred by the gloomy economic outlook.”

Auction highlights include:

• Lot 5 – Epsom – a freehold children’s nursery investment, let to Monkey Puzzle Day Nurseries Ltd on a new 25-year lease with no breaks, guided between £1.15m - £1.2m (6.52% GIY)
• Lot 6 – Surrey – a freehold public house and hotel investment, let to Mitchells & Butler and Travelodge with RPI increases, with total rent of £263,835 p.a., guided at £3.1m (8.51% GIY)
• Lot 23 – Aberdeen – a 200-bed hotel ground rent investment, let to Moxy Hotel on a lease expiring in 2140 with annual CPI-linked reviews, with total rent of £269,657 p.a., guided at £4.15m (6.5% GIY) 

Allsop’s next commercial auction will be held online on 11^th December, and the complete catalogue can be viewed here.