Allsop raises more than £60m in May commercial sale
Allsop raised £60.4m in its latest commercial auction, with a success rate of 84%.
The total from the 17 May online sale means it raised more than £100m in seven days from its commercial and residential auctions.
Its 11 May residential auction, held in the ballroom for the first time since before the pandemic, raised £46.5m.
Allsop raised £60.4m in its latest commercial auction, with a success rate of 84%.
The total from the 17 May online sale means it raised more than £100m in seven days from its commercial and residential auctions.
Its 11 May residential auction, held in the ballroom for the first time since before the pandemic, raised £46.5m.
A total of 83 lots were sold at the commercial auction.
George Walker, partner and auctioneer, said: “Agents are widely reporting low deal volumes and ever-lengthening transaction times, so it is refreshing to report a solid auction market where we raised the most since September last year – the recent peak of £130m in one sale.
“As always, the breadth of stock sold touched nearly every sector, with strong demand for the best retail, industrial and alternatives… with buyers chasing yield. There were some strong prices paid with a quarter of the lots selling at 6% or better, once again confirming the cash that investors are ready to deploy for the right investment.”
Highlights from the commercial auction included:
A Grade II listed shop investment in Cheltenham (pictured), sold for £1.2m – a 5.9% yield
Three shops in St Albans with ancillary accommodation above and a large yard to the rear, sold for £2.4m (3%)
A multi-let industrial estate in Ipswich, comprising 14 units totalling 30,421 sq ft, sold for £2.4m (9%)
Allsop’s next commercial auction will take place online on 6 July.
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Image: Allsop
