Following its most successful February auction in a decade, Allsop is pleased to release its upcoming March commercial auction catalogue, which includes a multitude of commercial, mixed-use and alternative opportunities in London and across the country.
The largest lot in the catalogue is lot 62, a CoOp supermarket in Shoreham-by-Sea. The lot comprises a total area of 35,648 sq. ft. and sits 150m from Shoreham-by-Sea railway station which has direct links into Brighton and London. Currently let at £260,000pa, the property has a guide price of £3.75m.
Another highlight is lot 66, a mixed-use lot, comprising of a large ground floor shop and nine recently developed flats. The property will be let to AF Blakemore, trading as a Spar supermarket for £90,000pa and sits 230m from Leytonstone underground station on the Central line. The property has a guide of £3.25m.
One of the more attractive and centrally-located opportunities is lot 57. Sitting on Linhope Street in Marylebone, the property is currently let entirely to the London Business School as its staff offices. The three-storey building, located 370m to the Western border of Regents Park, has a current rent of at £127,500pa and guide price of £2.4m-£2.5m.
A portfolio of three long let National Car Parks (NCP) offer good exposure to the alternative sector, offered as lot 65, lot 70 and lot 74. Located in Southport, Worcester and Newport respectively, the car parks each lease offer annual rent increases. With a collective rent of £442,079pa the guide prices are as follows: Southport £1.2m, Worcester £2.2m and Newport £1.4m.
Throughout the catalogue there are 10 lots available through the portfolio break up of McColls supermarket. Lot 23 presents an opportunity in Harrogate with a current rent of £18,028pa and guided at £280k. In Nottingham, lot 25 is a 413 sq ft property with a rent of £29,359pa and guided at £425k. Similar opportunities include but not limited to, are lot 32 and lot 19.
George Walker, Partner and Auctioneer, Allsop says “The market is full of cash and buyers are currently looking for long income, yield and exposure to mixed use assets which this broad catalogue offers. When we asked the buyers at our last auction, 35% of them were new to our market and the breadth of this catalogue with prices from £3.75m to £1 reserve will encourage buyers to continue to build their portfolios”.
The auction will take place on March 26 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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