Soho’s lot is headline of Allsop’s 102 lot July Commercial Auction catalogue

• 37 Berwick Street, Soho is being offered at £3.25 to £3.5m having been circulated by private treaty
• 28 other lots at £1m or more highlight a turning point in market confidence
• Strong pre-auction bids already being made by large pool of new buyers

Allsop has launched its July commercial auction catalogue which is its largest to date since lockdown began, offering a wide spread of lots across all sectors and the average guide price of the 28 over-£1m lots set at £1.9m.  In spite of the impact of Covid-19 on the property market, Allsop have traded £110m during lockdown over three online-only auctions.

The auction – which will be held online-only on 21^st July – will offer 102 lots, and has already attracted a number of strong pre-auction bids from a pool of new buyers.

Various mixed-use assets give investors the opportunity to expand further away from the more traditional High Street properties which have faced ongoing challenges in light of the Covid-19 lockdown – from Berwick Street, Soho (lot 3 – being offered at £3.25 to £3.5m) to a former bank in Richmond (lot 9) which is guided at £2.9m.

George Walker, Partner and Auctioneer at Allsop, said: “Despite us having an additional June auction, the catalogue for our 21^st July commercial auction is our largest one since the onset of Covid-19 earlier this year.  We raised over £28m in our June auction and we are seeing this confidence continuing to grow.”

“Sellers’ confidence in our ability to access the market has flourished, and buyers are planning to invest their cash where they believe long-term returns will be secure as they see initial signs of recovery. Some of the multi-let industrial lots will be a test of buyers’ confidence in the Chancellor’s plans to help small businesses recover as lockdown is eased.”

Highlights from the catalogue also include:

• A portfolio of 9 multi-let industrial lots, guided at prices from £550,000 to £2m.
• Lot 10 Barkingside, Greater London – a freehold High Street retail investment and development opportunity. Guide £3m+
• Lot 32 Maidstone, Kent – a leasehold industrial estate investment comprising 16 units with forecourt car parking. Guide £2m+

To safeguard the wellbeing of our staff, clients and buyers and to comply with Covid-19 social distancing restrictions, Allsop’s forthcoming commercial auction will be online-only.

The auction will take place online on 21^st July 2020. The catalogue can be viewed online. Prospective buyers will need to register to bid remotely by Friday 17^th July. To view the full details on how to bid, please see the following link:  https://auctions.allsop.co.uk/remote-bidding