Allsop Commercial raised £77.9m on Monday at their second sale of the year with an average success rate of 82%. A total of 106 lots were sold including 20 lots for over £1m including Carlton House, Putney at £13.5m, the largest lot ever sold on an auction contract.
The highest value lot under the hammer was lot 91, The Trident Centre, a multi let shopping centre in Dudley which sold on behalf of Receivers at £3.25m after competitive bidding to a UK based private property company.
Other notable lots include lot 78, a Barclays Bank investment in Twickenham with full planning consent for two flats above was sold at £2.72m (3.7%). Lot 75, a listed restaurant in Norwich, let to Prezzo plc sold for £1.22m (5.5%) to a London based private property company.
Multi lot vendors included NHS Property Services who sold all eight lots offered, a London based property company who offered four freeholds on Heath Street, Hampstead with all four selling for £6.64m and Lodge Brothers Funerals who sold all five lots, raising £2.19m.
Grade A retail yields continued to improve to 5.4% (2013 average 6.3%) and B Grade retail also improved to 8.3% (2013 average 8.8%).
Duncan Moir, Partner and Auctioneer comments said that the strength of the market continues, and, while there is focus on London and the South East, the demand for correctly priced regional assets is improving.
The next Allsop commercial auction will take place on the 20th May. The online catalogue will be available from Saturday 26th April.
