- Allsop’s latest commercial auction in June raises £25.9m
- The highest value investment, lot 8, was a prominent freehold bank investment in Derby, which sold for £2.1m
- 43 lots sold in total
Allsop has raised more than £25m at its first June commercial auction in 20 years, taking its lockdown commercial auction tally since mid-March to £107m. A number of investment opportunities were available from high street shops, freehold convenience stores, public houses and retail warehouses throughout the UK.
George Walker, Partner and Auctioneer at Allsop said: “The wider market is yet to really recover its momentum since lockdown began. Having said that we pleased to have exchanged on over 160 sales since the end of March, bringing our total during the lockdown period to £107m.
At the June auction, the buyer base was as wide as ever: private investors were clearly enticed by the higher yields on offer after several months of pent-up demand. Once again, we saw a large volume of both corporate and private tenants buying their tenanted properties, clearly demonstrating their belief in the forthcoming recovery.”
- Lot 2, St John Wood, London – a freehold restaurant investment on popular Abbey Road sold at £950,000 with a NIY of 6%
- Lot 12, Stockport, Cheshire – a freehold warehouse investment let to Topps Tiles sold after, off a guide price of £1.3m
- Lot 14, Sutton-in-Ashfield, Nottinghamshire – a freehold warehouse investment let to Halfords and Papa John’s until 2027 and 2035 respectively, which sold prior off the guide price of £1.65m
Allsop will be hosting its next online commercial auction on 21st July.
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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