Allsop’s commercial auction team are pleased to announce that their ‘new look’ February 2011 Commercial Auction Catalogue is now available.
It is the first auction of the New Year and the commercial auction team are delighted to be offering a total of 121 lots for a wide range of vendors including Aberdeen Asset Managers, ADP Dental Co. Ltd, Enterprise Inns Plc, Harrow Council, Luton Borough Council, The Parks Trust, Rockspring Property Investment Managers and Funeral Partners Ltd. There are also 18 lots offered on behalf of Receivers. The total income from the lots on offer is in the region of £6 million.
Allsop’s commercial auction team finished on a high note in 2010 with the December auction raising £60.5 million, a success rate of 81.5%. Allsop commercial raised considerably more than any other auctioneer with a stronger success rate. The overall result for 2010 was also strong and Allsop commercial increased their market share again by selling 585 properties and raising in excess of £385 million, with a market leading success rate of 83% (Source: EIG Group) These continued high volume sales provide the team with an unrivalled knowledge and database of buyers currently in the market.
However 2010 proved a challenging year for the commercial auction market as a whole, with total sales 22% below those achieved in 2009. One of the main reasons for these lower levels was the ongoing shortage of well let and well located properties. The commercial auction team’s results throughout 2010 demonstrated the strength in the market for such properties, with prices for these properties regularly exceeding those achieved at the top of the market in 2007. They also saw strong demand for industrial properties and in particular the more opportunistic situations which were typically multi let, part vacant and high yielding. Whilst 2011 is likely to prove equally as challenging as 2010, Allsop commercial are confident it will present many opportunities for both buyers and sellers alike.
The commercial February 2011 catalogue is their largest February auction in terms of lot numbers since 2007. It offers their usual wide range of properties from Ground Rents to significant Central London properties. Some of the highlights include:
- 39 properties in London including properties in the West End, Kensington, Islington, St John’s Wood and Southwark
- 13 Bank investments located throughout the UK
- 18 lots offered on behalf of Receivers
- 18 lots with guide prices of £1m or more
- 12 first class pubs on behalf of Enterprise Inns
- 8 Supermarket/Convenience store let to tenants including Tesco, Sainsbury’s, Costcutter and McColl’s
- 8 Industrial Investments
- The largest lot is an office investment in Cumbernauld let to Scottish Power until 2020 at a current rent of £258,315pa (Lot 79)
Tuesday 8th February 2011
The Park Lane Hotel, Piccadilly, London W1
Lot 1 commencing at 10:30am precisely
Morning Session (Lots 1-60)
Afternoon Session (Lots 61-120) commencing at 2:30pm
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
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