A Travelodge, four job centres and a car park are expected to appeal to investors looking for alternative assets at the final Allsop commercial sale of the year.
The 32-bedroom hotel in Brierley Hill, West Midlands – let to the operator until 2039 – generates £89,000pa and is guided at £1.4m-£1.5m, a 6% yield.
The job centre investments – all let on leases expiring in 2027 – are in Newquay, Cornwall; Yeovil, Somerset; Accrington, Lancashire and Caerphilly, Wales, and guided from £600,000-£1,35m. Yields range from 7.5%.
The car park in Swansea, Wales, spanning 2.89 acres, is let to Virgin Media until 2039 and generates £112,500pa. It is guided at £1.6m-£1.7m.
George Walker, partner and auctioneer at Allsop, said: “We have raised £430m by auction this year, but capital markets are being tested harder now than at the beginning of the year.
“With the range of assets on offer in this catalogue, investors have plenty of opportunities to diversify their portfolios and make their cash work for them.
“Our ongoing buyers’ survey confirms the depth of spend in the market, and with the yields ranging from 3.5%-15%, we are anticipating a strong end to the year.”
Yields across the 144 lots offered range from 3.5% in London to 15% for some regional retail assets. There are 16 London lots with guides ranging from £200,000 to £2.5m. This includes a shop with three bedsits above in the heart of Marylebone Village, W1. Guided at £2.1m-£2.2m, it is the second-highest value investment in the catalogue.
The highest-value asset is a shop and office in Sevenoaks, Kent, guided at £2.5m and producing £185,500pa. Tenants include Santander, Specsavers and Oxfam.
One of the more classic high street disposals includes the breakup of 78/84 High Street in Bromley, Kent, let to Boots, Metro Bank, St Christopher’s Hospice and Harvey and Thompson.
Each of the four lots will be offered with the residential upper parts, with guides ranging from £750,000-£1.65m.
The auction will take place on 4 December at The Berkeley, SW1.
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