- A total of 163 lots, let at a total rental income of £9.4m
- 30 lots being marketed at £1m or more
- The March catalogue is 45% larger than this time last year
Allsop’s March commercial auction catalogue offers 163 lots at a total rental income of £9.4m, with 30 lots guided at £1m or more.
The March catalogue continues to offer a wider range of assets with retail investments representing some of the larger lots. The catalogue also features a good range of industrial properties, which is a sector that continues to be of interest to buyers, as evidenced from the success of the February auction.
Retail investment highlights include a total of 10 convenience stores such as lot 7, a Co-op store in St Albans, let at £85,000pa on a lease expiring in 2032 and guided at £1.5m. In addition, the catalogue includes two more long leasehold B&M stores likely to be of interest to investors, lot 97 in Ebbw Vale and lot 101 in Brigg, on sale from a portfolio.
A further 10 industrial assets are on offer, which are likely to be sought-after in a sector that is short of supply. This includes lot 6, in Reading, a warehouse and office investment comprising a total of 18,294 sq ft, let at £110,000pa and guided at £1.1m – £1.2m.
The largest lot on offer is lot 92 a multi-let office in Hertford, comprising of a total of 18 office units covering a site area of 1.64 acres. The accommodation includes a large car park and is let at £306,687pa, guided at £3.7m.
George Walker, Auctioneer and Partner at Allsop, said: “The latest catalogue is released into a market which is cash rich, and based on the results from our February auction, is eager to buy the right stock. The latest fluctuations on the stock market serve to reinforce the long term reliability of income streams available from a range of commercial investments and we anticipate a busy sale, which is 45% larger than this time last year. The first weekend of marketing has already proved a busy one.”
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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