Allsop mega-sale raises £115m
Allsop’s latest commercial sale raised £115.4m from its biggest catalogue of the year.
Out of 229 lots, 195 sold, reflecting an 86% success rate.
Allsop commercial partner Duncan Moir said the result was amazing and the biggest one-day result for a decade.
[caption id="attachment_808294" align="alignright" width="200"] Duncan Moir[/caption]
Allsop’s latest commercial sale raised £115.4m from its biggest catalogue of the year.
Out of 229 lots, 195 sold, reflecting an 86% success rate.
Allsop commercial partner Duncan Moir said the result was amazing and the biggest one-day result for a decade.
Volumes raised from retail lots totalled £84.7m, with the retail yield sharpening to 7.1% from 8.1% in July.
The largest lot was a freehold unbroken parade of 12 shops with flats above, along with two advertising hoardings, in Penge, SE20. Generating £307,345 pa with one vacant shop, the lot sold for £6m off a guide of £4.5m-plus – a 5.12% yield.
Regional lots outside London and the South East comprised 55% of the total sales.
A McDonald’s drive-through restaurant with a £73,525 pa income in Keighley, West Yorkshire, and a lease expiring in 2026 with no breaks, sold for £1.4m off a guide of £1.2m-plus – a 5.18% yield.
An empty 871 sq ft leasehold shop in Birmingham, guided at £75,000 to £100,000, sold for £152,000, while an 11,151 sq ft former nightclub in Blackburn, Lancashire, sold for £160,000 off a £175,000 guide.
However, a freehold former bar with ancillary accommodation in Halifax, Yorkshire, guided at £300,000-plus, failed to sell.
The takings, which could be boosted by further post-sales, were up from Allsop’s previous sale in July, which raised £66.7m, and also up from last October’s £110m.
The sale took place on 10 October at the Berkeley, SW1.
