Auctions

Allsop announce July auction catalogue

Warren Lewis -
|
15th June 2018
auction

Allsop’s commercial auction on the 3rd July will see more than 200 lots auctioned at The Berkeley, Wilton Place, Knightsbridge. The auction catalogue, which has now been released, features 41 lots offered at £1m+ and investments generating an income of in excess of £10m per annum.

In a market which is looking for security of income, 36 bank investments – more than double the average per auction, are included, giving investors certainty of income.

Of these, lot 8 in Muswell Hill is let to HBOS Plc and is anticipated to be particularly sought-after. The lease contains two flats and is guided at £1.7m - £1.8m, 4.8%.

The highest value investment in July’s catalogue is lot 99. To be offered at £6.9m - £7m, it comprises an attractive 45,835 sq ft office building in a town centre location in Ipswich. The property is entirely let to the Secretary of State on two separate leases until 2028 with rent reviews due in 2023 and generates £485,368pa.

Almost half of the catalogue features lots from across the London and the South East. Highlights include lot 97, a town centre shop with three, two-bedroom flats in Bromley, guided at £2m - £2.2m. The investment also comes with planning permission for an additional three-bedroom flat in the roof. The property is well located on a busy, pedestrianised thoroughfare whilst the shop is let to Costa until 2028.

George Walker, Partner and Auctioneer, Allsop said: “The market has shown that there is a real depth of capital for these large mixed-use assets, particularly in London and the South East, where we set the tone at 3.5% in Beaconsfield in our May auction. We expect to see continued investment interest in assets of this type as investors treat the wider High Street with the caution that it deserves.”

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