Commercial auction, to be held on 3rd November, has 120 lots. 17 lots guided are above £1m+, with the highest value lot being £3.1m+
Residential auction, to be held on 29th October, has 254 lots. 12 lots are guided above £1m+, with the highest value lot being £6.5m
On the same weekend, Allsop released both its commercial and residential catalogues for its upcoming auctions, launching a total of 374 lots to the market. On November 3rd, the commercial auction will offer 120 lots with 16 lots guided above £1m+; the residential auction, to be held on October 29th, will offer 254 lots with 12 lots guided above £1m+.
The highest value lot for the commercial catalogue is lot 23, a supermarket investment in Anglesey, Wales. The 14,870 sq ft site, which is currently let to Co-Operative Group Limited, is leased until 2035 with no breaks and the option to renew for an additional 25 years. The lot is guided at £3.1m+ (6.2%).
The highest lot for the residential catalogue is lot 50, Kelham Hall and Country Park in Newark, Nottinghamshire. Set on 44 acres of landscaped gardens and woodlands, Kelham Hall is one of the Midlands’ largest events venues with capacity for 1000 people. The site has full planning permission and listed building consent for a 103-bedroom hotel and spa. The lot is guided at £6.5m+.
George Walker, partner and commercial auctioneer at Allsop, said: “As the economic climate continues to change and evolve at a rapid rate, investors are looking for stable and strong income-producing yields and added value opportunities. The yield spread, from 5% to 30% has never been higher and reflects both a willingness to transact at one end and the anticipated competition for income and opportunity at either end of the risk curve.”
Richard Adamson, partner and residential auctioneer at Allsop, said: “Our October catalogue presents a myriad of opportunities from vendors that are committed to selling. We have an additional 40 lots compared to this time last year, and we are offering a wide variety of investment types including regulated tenancies and ground rents together with a number of attractive development opportunities. In the current climate pricing is more important than ever and if the last few months are anything to go by, we anticipate plenty of appetite from buyers and a busy auction day ahead.”
Highlights from the commercial catalogue include:
- Lot 27, Windsor, Berkshire – a Grade II listed freehold office investment located directly opposite Windsor Castle. Comprising 4,226 sq ft of space, the site including parking for 12 vehicles and potential residential redevelopment, subject to consents. Guide £1.5 – £1.6m+
- Lot 10, lot 11, lot 12, lot 13, lot 14, lot 15, lot 16, lot 17, lot 18, lot 19, Northwood, Middlesex – a mixed-tenure portfolio of ground floor retail shops and above maisonettes. Combined guide £4.46m+
Highlights from the residential catalogue include:
- Lot 77, Highwood Hill, London – a freehold two storey house with detached barn house, totally five bedrooms of accommodation located on a generous plot of 0.54 acres of land. Guide £1.3m+
- Lot 57, Cheltenham, Gloucestershire – a freehold Grade II listed regency building, containing five self-contained flats; one two-bedroom flat and four one-bedroom flats. Guide £560,000+
The next online-only commercial auction will take place on 3rd November and the next residential auction is on 29th October.
Notes to editor
About Allsop auctions
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.
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