Allsop gears up for brace of big September sales

Allsop will offer its largest commercial auction catalogue since September 2022 this month, with 145 lots. The 24 September online sale, with assets being marketed on behalf of private investors, REITS, investment funds and managers, as well as listed businesses, will feature 34 lots guided at or above £1m. The most expensive is a car park in Norwich (pictured) guided at £5m, comprising 823 spaces and let to Aviva Central Services UK. Another highlight of the auction is a shop and office investment in London’s Kensington, arranged over four floors and extending 3,611 sq ft, which is guided at between £1.8m and £2m. The auctioneer has also put out a bumper residential catalogue, with 531 lots being offered on behalf of private investors and developers, as well as receivers and housing associations. Some 17 of these lots are guided at £1m-plus. Among the highest valued lots are a former office building in Surrey with planning and permitted development for a total of 38 self-contained flats, and a block of 24 flats in Harlesden, London, with planning permission for a two-storey extension to provide a further six self-contained flats. Both lots are guided at £4.25m. The livestream sale will take place across three days from 25-27 September. George Walker, Allsop partner and commercial auctioneer, said: “With interest rates finally starting their downward path, our clients are offering a wide range of quality stock in anticipation of a more solid market, and to get ahead of the likely uptick in supply over the course of the autumn.” Richard Adamson, Allsop managing partner and residential auctioneer, said: “The speculation about an increase to capital gains tax rates as part of the Autumn Budget is having a clear impact on residential property owners’ plans, with many choosing to sell their real estate assets ahead of October.” Earlier this month, Allsop’s auction arm announced its partnership with Empire Global Finance enabling bidders to access short-term finance. Photo © Allsop