UK auction house, Allsop has released the catalogue for its upcoming commercial auction, offering 100 lots with 21 guided at £1m or more.
The catalogue features a wide range of investment and development opportunities across the UK, with a concentration of value in London and the southeast. The size of the latest catalogue is in response to the strong pricing achieved in Allsop’s September commercial auction sale, which has now raised £55m, bringing the year-to-date total to £357m for commercial auctions alone – with two more scheduled before the end of the year.
Highlights of November's auction include Lot 16 – Holborn, London – a freehold office investment totalling 14,227 sq. ft, let at £413,250 p.a. until 2025 with future redevelopment potential, guided from £5.25m+ - £370psft and 7.9% GIY, Lot 18 – Windsor, Berkshire – a residential and restaurant investment, let to Franco Manca until 2037 with 3 flats let on ASTs close to Windsor Castle, guided from £2.1m+ (7.5% GIY), and Lot 31 – Frimley, Surrey – an unbroken parade of shops with residential above, with 5 shops and 8 flats and lapsed consent for 4 additional flats, total rents: £200,424 p.a. plus 2 vacant maisonettes, guided from £2.5m+ (8% GIY)
George Walker, partner and commercial auctioneer at Allsop, said: “It appears as though all eyes are on the Chancellor’s budget on October 30th, which investors may see as a turning point in the market where yields might well compress. We therefore expect buyers to be interested in this catalogue and its wide range of stock, with a Holborn office building being the largest, as well as several industrial and retail assets across the country. We anticipate a strong end to the year as tailwinds give investors further confidence.”
