Allsop’s final commercial auction of the year on 4th December will see 144 lots offering a total income of £7.5m per year. The auction catalogue, which has now been released, features a broad variety of investments from across the sector with yields ranging from 3.5% in London to 15% for some regional retail assets.
Alternative investments, which have been steadily growing in demand, are anticipated to be sought-after. This includes a portfolio of four job centres, all let on leases expiring in 2027. Located in Newquay, Yeovil, Accrington, Caerphilly and guided from £600,000-£1,35m, yields range from 7.5%.
In addition, Lot 87, a hotel in Brierley Hill, with 32 bedrooms let to Travelodge until 2039, generates £89,000pa and is guided at £1.4m to £1.5m, 6% net. Lot 90, a car park in Swansea spanning 2.89 acres, let to Virgin Media until 2039, generates £112,500pa and is guided at £1.6m – £1.7m.
December’s auction will offer 16 lots located in London with guide prices ranging from £200,000 to £2.5m. This includes Lot 81, an attractive shop with three residential bedsits above in the heart of Marylebone Village. Guided at £2.1m – £2.2m, it is the second highest value investment in the catalogue. Lot 85, a shop and office investment in Sevenoaks is the highest value asset to be offered. Guided at £2.5m, tenants include Santander, Specsavers and Oxfam.
One of the more classic High Street disposals in the catalogue includes the breakup of 78/84 High Street in Bromley, let to Boots, Metro Bank, St Christopher’s Hospice and Harvey and Thompson; all are being offered with the residential upper parts as Lots 7,11,18 and 24.
George Walker, Partner and Auctioneer, Allsop said: “We have raised £430m by auction this year, but capital markets are being tested harder now than at the beginning of the year. With the range of assets on offer in this catalogue, investors have plenty of opportunities to diversify their portfolios and make their cash work for them. Our ongoing buyers’ survey confirms the depth of spend in the market, and with the yields ranging from 3.5% to 15%, we are anticipating a strong end to the year.”
The auction will take place on Tuesday 4th December at The Berkeley, Wilton Place, Knightsbridge, London SW1X 7RL. The catalogue can be viewed online.
Notes to editor
Allsop run the largest property auction departments in Europe through two highly experienced residential and commercial teams and is the UK’s number one auction house by transactions. We offer a wide range of lots covering residential vacant and investment properties, ground rents, land and development opportunities and secondary commercial lots. A minimum of six commercial and seven residential sales are held every year. Visit: http://www.allsop.co.uk/our-services/auctions/selling-at-auction/
Allsop is an independent property consultancy with a market-leading reputation for high quality service and integrity, covering the UK from our offices in the West End, the City, Leeds and Brighton. In addition to our position as the UK’s largest and most successful property auction house, we offer an extensive range of services for residential, commercial and mixed use property.
We have the people, the skills, the experience and the drive to maximise value for our clients in any given market and like to do business in our own distinctive Allsop style – open, friendly and honest. Clients appreciate this, which is why so many stay with us over the long term.
In an unpredictable world, Allsop remains a reassuringly constant source of market knowledge, insight and expertise. Visit: www.allsop.co.uk
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