Property consultancy and auction house Allsop raised more than £70m at its October commercial property auction, its largest commercial sale in four years and the biggest since September 2022. A total of 93 lots sold at an 85% success rate, and further lots went under offer after the auction.
The firm’s commercial property auction sales now stand at £286m for the year to date, from 376 lots sold at an overall success rate of 90%. The same period in 2025 produced £269m from 401 lots at 83%. The team has also sold 85 lots for more than £1m so far in 2026, against 83 a year earlier.
The largest sale at the commercial property auction was Lot 20, a multi-let office investment with parking in WC1, Central London, producing rental income of about £478,000 a year. The property sold before the auction for £6.05m, a net initial yield of 7.4%.
Fifteen lots sold for more than £1m, while 20 achieved net initial yields of 7% or below. Nearly a quarter of lots sold at least 10% above their reserve, and the average overage above reserve reached 15%.
London and the Southeast accounted for 48% of lots sold and 61% of total value. Retail was the largest sector, making up 78% of lots sold and 73% of total value.
Other lots over £1m included:
- Lot 10, a freehold mixed-use parade investment in Bristol, BS16, sold for £1.83m at a yield of 8.1%
- Lot 25, a freehold convenience store investment in East Wittering, PO20, with uncapped RPI rental increases for 15 years, sold for £1.4m at 6.7%
- Lot 7(pictured), a freehold mixed-use investment with asset management opportunities in Chesham, HP5, sold for £1.2m at 7.6%
“Despite market caution ahead of the Budget and a potential rise in interest rates, buyers continue to respond positively to realistic pricing, a proactive approach and attentive customer care; it all helps generate competitive bidding and achieve the results our clients need,” said Mark Gower, commercial managing partner at Allsop Commercial.
“Pricing is simply so important when cash has as much choice as it does these days, and it was not surprising to hear buyers are reallocating capital away from residential to commercial property given all the recent regulatory and tax changes.
“Last week’s auction was our largest commercial sale for four years, largely thanks to a high proportion of high-value lots, a number of which had previously been marketed by private treaty without success.
"I wouldn’t say the market is particularly better or worse since before the summer, but there was certainly an element of pent-up demand with it being almost 3 months since our last auction in July.
"We often find less is more when it comes to the number of commercial auctions we hold, as there’s far more detail to consider. Both buyers and sellers need time to prepare and get comfortable before they commit.”
