Allsop has released its October commercial auction catalogue, which will see 191 lots with a total income of £10.3m p.a, go under the hammer. The catalogue features 39 investments guided at £1m+.
The catalogue includes assets from all commercial sectors from across the country with a high number of investments, 67 in total, located in London and the south east.
Long income assets, which are anticipated to remain in high demand at the next auction, includes lot 96, a mixed-use investment on Garlick Hill, London EC4, guided at £2.8m – £3m, 6%. Positioned in this sought-after City of London location, near St Paul’s, the investment comprises a restaurant let to Nyokee Ltd until 2031 without breaks and four serviced apartments above, all let to Saco Cannon Street Limited until 2132. Both leases also have fixed increases from 2021.
Buyers looking for value added opportunities have a number of projects to consider, including, lot 9, a mixed-use investment and development opportunity on London Road, Norbury, London. Guided between £2.6m – £2.8m, this investment comprises five shops, two flats, one office and a community centre. Located near Norbury rail station and in a prominent high street location, it currently generates £151,500 p.a.
In addition, lot 99, an attractive 3,035 sq ft grade II listed vacant office building located in desirable Windsor is guided at £1.5m+. The property is positioned in the town centre close to Windsor Castle and offers residential redevelopment potential subject to planning.
Outside of London and the south east, lot 18, a pub investment in Brixham, Devon, is let to JD Wetherspoon until 2038 at £44,100p.a and is guided at £800,000 – £850,000, 5.5%.
October’s catalogue also features a large number of high street retail investments outside of the capital, including lot 95 in Derby. Part let to Disney UK and Burger King, this unbroken parade of eight shops generating a total rent of £564,900pa, is guided at £2.5m+, 22.6%.
The catalogue also comprises three portfolios of sale and leasebacks from Ladbroke Coral with 16 lots, including three Poundstretcher and two Funeral Partners investments, all let on new leases at rack rents.
George Walker, Partner and Auctioneer, Allsop said: “Our recently published research shows that private investors are happy to rely on the income that real estate assets can provide on a long-term basis. This catalogue offers a tremendous range of investment opportunities for the canny buyer at all price points and levels of risk for their cash.
“The £300m we have raised already this year demonstrates how resilient the private investor is in the wake of economic uncertainty and we anticipate another busy auction room after a testing summer.”
The auction will take place on October 23rd at The Berkeley Hotel, Wilton Place, London SW1X 7RL. The catalogue can be viewed online.