Auctions

Allsop release details about their May commercial auction

Warren Lewis
|
30th April 2019
auction

Auctioneer, Allsop, has released its latest commercial auction catalogue, showcasing 160 lots with a total income of £9.9m p.a, due to go under the hammer at The Berkeley Hotel, Wilton Place, London on 20th May.

The catalogue features more than 65 investments in London and the South East and comprises 32 high value investments guided at £1m+.

The largest lot in the catalogue is lot 90, a freehold office investment in Swindon, Wiltshire. Located opposite Swindon rail station, the 4,714 sq ft building is majority let to Network Rail Infrastructure until 2021. The building has 19 car spaces and has been granted planning consent for 59 residential flats. With a current rent of £614,750 the property has a guide price of £6.4m, with a gross yield of 9.61%.

The catalogue features a number of investments within sought-after South West London with more than 12 investments in the area. Lot 5, a freehold shop in Chelsea located on Walton Street, has a current rent reserve of £60,000 p.a and a guide of £1.25m - £1.35m, with a gross yield of 4.8%. Lot 80, a freehold shop and residential opportunity on Putney High Street has a current rent reserve of £59,110 p.a, with a gross yield of 5.03%.

One of the largest regional lots includes lot 89, a car dealership in Doncaster, South Yorkshire. The 16,960 sq ft property has a prominent main road frontage and is currently let to Pendragon Property Holdings with Land Rover as the main occupier. Currently generating £208,669 p.a., the property has a guide price of £2.5m with a gross yield of 8.35%.

Another regional highlight is lot 102, two freehold town centre shopping parades in Barrow-in-Furness, Cumbria. Combined, the two parades consist of nine shops comprising a total space of 55,275 sq ft. Tenants currently include Boots, River Island and JD Sports. To be offered as a single investment, it currently generates £508,400 p.a. with a guide price of £3.675m and a gross yield of 13.83%.

George Walker, Partner and Auctioneer, Allsop says: “May’s commercial auction catalogue presents a number of strong investment opportunities which will feed the deep investor demand that we have already seen this year. These include several substantial mixed-use London assets and larger office and alternative investments, which will be highly sought after as Investors hunt for security and yield. We are anticipating a high level of interest on the day in the auction room”.

Allsop’s auction catalogues can now be better accessed on an enhanced Allsop website or newly launched app, benefiting from new and improved search functions. The improved site also provides registered customers with regular updates and enables investors to print their own catalogue, selecting assets of their choice.

The full catalogue can be viewed online here

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