Allsop has released its upcoming May commercial auction catalogue, which will see 160 lots with a total income of £9.9m p.a, go under the hammer. The catalogue features more than 65 investments in London and the South East and comprises 32 high value investments guided at £1m+.
The largest lot in the catalogue is lot 90, a freehold office investment in Swindon, Wiltshire. Located opposite Swindon rail station, the 4,714 sq ft building is majority let to Network Rail Infrastructure until 2021. The building has 19 car spaces and has been granted planning consent for 59 residential flats. With a current rent of £614,750 the property has a guide price of £6.4m, with a gross yield of 9.61%.
The catalogue features a number of investments within sought-after South West London with more than 12 investments in the area. Lot 5, a freehold shop in Chelsea located on Walton Street, has a current rent reserve of £60,000 p.a and a guide of £1.25m – £1.35m, with a gross yield of 4.8%. Lot 80, a freehold shop and residential opportunity on Putney High Street has a current rent reserve of £59,110 p.a, with a gross yield of 5.03%.
One of the largest regional lots includes lot 89, a car dealership in Doncaster, South Yorkshire. The 16,960 sq ft property has a prominent main road frontage and is currently let to Pendragon Property Holdings with Land Rover as the main occupier. Currently generating £208,669 p.a., the property has a guide price of £2.5m with a gross yield of 8.35%.
Another regional highlight is lot 102, two freehold town centre shopping parades in Barrow-in-Furness, Cumbria. Combined, the two parades consist of nine shops comprising a total space of 55,275 sq ft. Tenants currently include Boots, River Island and JD Sports. To be offered as a single investment, it currently generates £508,400 p.a. with a guide price of £3.675m and a gross yield of 13.83%.
George Walker, Partner and Auctioneer, Allsop says: “May’s commercial auction catalogue presents a number of strong investment opportunities which will feed the deep investor demand that we have already seen this year. These include several substantial mixed-use London assets and larger office and alternative investments, which will be highly sought after as Investors hunt for security and yield. We are anticipating a high level of interest on the day in the auction room”.
Allsop’s auction catalogues can now be better accessed on an enhanced Allsop website or newly launched app, benefiting from new and improved search functions. The improved site also provides registered customers with regular updates and enables investors to print their own catalogue, selecting assets of their choice.
The auction will take place on May 20th 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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