Allsop’s December commercial auction will offer 92 lots with a combined income generated of more than £5m per annum across a wide range of investments. The auction follows the success of its October sale which saw a clear demand for alternative investments, assets offering added value or mixed use opportunities. It raised a total of over £80m.
December’s auction catalogue, which has now been released, includes assets from all commercial sectors located across the country, with a high number of investments, 67 in total, located in London and the south east.
Alternative assets are prominent in the catalogue, particularly two Travelodge investments, lot 10 and lot 20 in Liverpool and Sutton Coldfield. Lot 10, located in Stoneycroft, just four miles from Anfield football stadium is let to Travelodge until 2035 and generates a rent of £75,712pa. It is guided at £1.2m – £1.3m. Lot 20, guided at £2.5m – £2.6m is also let until 2035 and generates £160,722 pa.
December’s auction will also see two investments let to Pure Gym, the largest gym operator in the country, go under the hammer. Both lot 15 in Didcot and lot 27 in Kirkcaldy, generating £70,000pa and £80,000pa, are let on a 15 year lease and are guided at £925,000 and £1m+.
The largest lot in the catalogue is lot 14, an unbroken parade of 13 shops, offices, and four flats, all let at a rent of £415,717pa. Located in Pitsea, near Southend-on-Sea, the site offers significant development potential subject to planning consent. Guided at £4m+, it has already generated considerable interest.
Yields on offer in the catalogue range from 5.75% for a long lease with minimum increases such as lot 16, a Tesco investment in Bedale, guided at £940,000+, to 20% on lot 43, a New Look investment on a new five year lease in Grimsby. Generating £200,000 pa and guided at £1m, the price reflects some of the opportunity available to buyers with good retail knowledge and an appetite for high street assets.
George Walker, Partner and Auctioneer, Allsop said: “Investors are hoping that the forthcoming General Election will mark a turning point in confidence in the market and the wider economy. Those with conviction might see this as a buying opportunity, but from the first indications of interest we have received, demand is clearly evident across the board, particularly where pricing has reflected the opportunity and risk.”
The auction will take place on December 9th at The Berkeley Hotel, Wilton Place, London SW1X 7RL. The catalogue can be viewed online.
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.
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