- Allsop’s June commercial auction catalogue comprises 63 lots with a combined guide price over £40m
- Auction to be held online on 16th June
- Fourteen lots are guided at £1m or more, including the largest lot in Northampton at £3.75m
Owing to increasing demand from vendors, Allsop has launched its first June commercial auction in 20 years. The auction – which will be held online-only on 16th June, will offer 63 lots, of which 14 will be guided at £1m+. Despite the impact of Covid-19 on the property market in general, the popularity of auctions has continued to prevail through the lockdown period with £80.5m now sold on auction contracts during lockdown.
As demonstrated at Allsop’s May auction, the long-let convenience sector is in strong demand. Lot 32 in Aldershot is a Lidl Supermarket comprising a total space of 13,841 sq ft and offering a 15-year lease. With two fixed rental uplifts in 2025 and 2030, the lot is guided at £2.1m+.
The catalogue offers a diverse combination of investments across the UK with three portfolios being sold individually and a host of one-off sellers. One fund is offering a mix of high street, office and industrial assets: lot 5, lot 8, lot 10, lot 14, lot 17, lot 18 and lot 21. The combined value of the portfolio is guided at £15.5m.
George Walker, Partner and Auctioneer at Allsop, said: “This is our third auction in three months and is a direct result of the increasing interest we are seeing from vendors wanting direct access to our live buyers. The catalogue hosts some strong investor opportunities across the country, and demand is once again focussing on sustainable and long income streams.
There has never been a more imperative time to get pricing correct on assets, some yields have moved out substantially in the last three months and the market is responding well as the balance of risk and reward continues to evolve, almost on a daily basis”
Highlights from the catalogue also include:
- Lot 4, Bewdley, Worcestershire – an attractive freehold convenience store comprising 4,012 sq ft entirely let to Tesco Stores Limited until 2034. Guided at £850,000
- Lot 9, lot 12, lot 16, lot 22 & lot 27, UK wide – a portfolio of Topps Tiles shops. Guided at £5.25m
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 16th June. The catalogue can be viewed online. To view the full details on how to bid, please see the following link: https://auctions.allsop.co.uk/remote-bidding
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.
- Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date at which the guide price, or range of prices, is published.
- The reserve price is the minimum price at which the property can be sold.
- Both the guide price and the reserve price may be subject to change up to and including the day of the 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.
For further information or supply of images
Newgate Communications on 020 3757 6890 or firstname.lastname@example.org
Or email May Dalton, Commercial Marketing and PR Manager at Allsop, email@example.com