Allsop makes bet on William Hill auction
Allsop is to bring a 58-strong portfolio of William Hill shops to auction in a special online sale later this month.
Allsop’s commercial auction team will bring the circa £7m portfolio to market on 20 April.
The William Hill properties are spread across the UK from Aberdeen to Sussex and will have an average lot size of around £120,000.
Allsop is to bring a 58-strong portfolio of William Hill shops to auction in a special online sale later this month.
Allsop’s commercial auction team will bring the circa £7m portfolio to market on 20 April.
The William Hill properties are spread across the UK from Aberdeen to Sussex and will have an average lot size of around £120,000.
It will be the third collection of William Hill shops Allsop has sold for the betting giant since being appointed by the firm last August. In its December 2022, February 2023 and March 2023 sales, the auctioneer sold a total of 74 properties for William Hill at an average lot size of around £180,000 and an average yield of 7.5%.
Following the sale of all 132 assets offered so far, Allsop will have raised in excess of £15m for William Hill.
The properties have all been put up for sale following the takeover of William Hill by online operator 888 for £1.95bn in July 2022.
This latest portfolio will be offered as sale-and-leaseback opportunities with standard 15-year leases.
George Walker, partner and auctioneer, said that while single-vendor auctions were rare, Allsop had held a number of similar sales, including in 1996 a portfolio of Lloyds banks and in 2007 a portfolio of Speedy Hire units, also offered on sale-and-leaseback deals.
The catalogue for the 20 April William Hill auction is due to go live this evening.
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