"We’re delighted to have raised £64 million at the UK’s largest ever live-streamed commercial auction – a clear sign that buyer demand and confidence in well-priced opportunities remain strong"
- Alex Neil - Allsop
Allsop has announced that it has raised £64 million at its September commercial auction, setting a record for the UK’s largest live-streamed commercial auction. The sale achieved a success rate of 74%, with 93 lots sold and strong participation from both institutional and private investors.
The highest-value lot was a multi-let office investment in Bromley, featuring residential planning permission, which sold for £3 million, reflecting a capital rate of approximately £175 per sq ft. A further 24 lots sold for £1 million or more, and 34 lots achieved prices at least 10% above reserve. The average lot size stood at around £695,000.
Other notable sales included a retail warehouse and autocentre in Banbury, let to Halfords until 2030, which achieved £2.61 million (7%), and a freehold shop and maisonette in Notting Hill, which sold for £2 million (4.5%).
Other highlights of the auction included Lot 73 – Bishops Cleeve, Cheltenham: Single-let industrial unit with open land, bought by a Hong Kong investor for £3.25 million (11.5% NY) and Lot 43 – Fleet Street, London: Freehold shop let until 2041 with offices above, totalling 3,271 sq ft and rents of £108,900 per annum, sold for £1.6 million (6.4% NIY).
Allsop marketed and sold properties on behalf of a wide range of clients, including Aberdeen Investments, Threadneedle, Funeral Partners, London Metric, NHS Property Services, and various private investors. The auction reflected continued investor confidence in commercial real estate, with strong appetite across multiple sectors and regions.
Of the lots sold, 52% were located outside London and the South East, accounting for 35% of the total sales value. Retail assets continued to dominate activity, representing 68% of lots sold and 62% of total value.
According to Allsop’s latest buyer survey, 93% of respondents intend to buy again, while 86% were repeat investors. A notable 86% of buyers said they did not intend to use finance, up from 65% in July, highlighting a sharp rise in cash purchases.
This latest auction brings Allsop’s year-to-date commercial sales to £270 million across 402 lots, achieving an overall success rate of 83%, with 83 lots selling for over £1 million.
“We’re delighted to have raised £64 million at the UK’s largest ever live-streamed commercial auction – a clear sign that buyer demand and confidence in well-priced opportunities remain strong,” said Alex Neil, commercial auction partner at Allsop. “Our live-streaming platform proved an overriding success for all involved, building on the achievements of our residential auction counterpart. This result takes our year-to-date commercial sales to £270 million and reinforces the resilience of the market.”
