Allsop has released its July commercial auction catalogue, which will see 127 lots with a total income of £7.8m p.a, go under the hammer. The catalogue features more than 30 investments guided at £1m+.
In line with strong investor appetite for assets in London and the South East and demand for mixed use investment opportunities, the biggest lot in the catalogue is lot 72, (pictured) an attractive bank and residential investment in Camden, London, let to Lloyds Bank until 2022. The investment, which spans more than 8,000 sq ft, also comprises four flats. The property also provides a development opportunity to create a further five residential units. Currently generating £276,732, it is guided at £5.5m, 5%.
Also in the South East, lot 11, a well located shop investment in the affluent market town of Berkhamsted, Hertfordshire, is guided at £2.5m – £2.75m. Fully let to Boots until December 2022, the property also comes with the potential to convert the first floor into residential use, subject to planning.
The catalogue features a number of sought-after retail assets, including five shop investments located across the country, all let to B&M Retail on long leases; lots 26, 79, 87, 90 and 97. This is in addition to three supermarket investments, all let to Iceland. Lot 68 a 19,830 sq ft investment in Sudbury, let to Iceland until 2026 with no breaks and a rental increase in 2022, is guided at £2m, 8%.
A good selection of alternative assets will also go under the hammer. Ten lots let to Kwik Fit on leases with 12 years unexpired, located in towns across the UK are likely to appeal to investors seeking the security of a strong covenant on a good lease. Similarly, the catalogue features two NCP car parks. Lot 27, a town centre car park located in Crawley and let to NCP on a new 35-year lease at £67,500pa, is guided at £1.2m – £1.3m. Lot 73, a car park in Lincoln with 46 spaces is let with over 24 years remaining at £83,720pa and is guided at £1.55+.
George Walker, Partner and Auctioneer, Allsop said: “This catalogue offers investors some very strong buying opportunities. We know that there is always cash for the longer and better let assets and there is a good choice of investments offering long term security of income and development opportunities across all sectors. There seems little prospect of Brexit clarity from Westminster in the short term, so we are expecting investors to bid competitively to secure income for their cash.”
The auction will take place on July 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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