Allsop release July commercial auction catalogue

Allsop Commercial has released the summer catalogue ahead of its next London property auction in July, which will feature 174 properties.

The sale, taking place on Wednesday 6th July, will consist of properties located throughout the UK with lot sizes ranging from nil reserve to £2.5m, with a total income in excess of £7.2m pa.

The catalogue, which can be viewed online, consists of 50 lots located within London and the South East generating £2.3m a year in rents, 26 lots with guide prices at or in excess of £1m, 23 lots offered on behalf of receivers, 10 office investments, nine industrial investments and five bank investments.

Of particular interest is lot 111, an iconic landmark building in West Bromwich. Now vacant, the building was formerly occupied by West Bromwich Building Society as their headquarters. Located in the town centre at the heart of a £1bn regeneration programme, the property is being offered at auction for £2.5m with vacant possession. The property comprises 44,263 sq ft of office space over six floors with 111 car spaces.

Other highlights include:

Lot 88, Loughton – Shop let to Nero Holdings Ltd (t/a Café Nero) until 2026 & flat above let on an AST. Total rents £58,700pa. Guide Price: £1,000,000+

Lot 91, London, N16 – Whole Foods Market let at £138,200pa, with fixed uplift in 2020 to £151,950pa, until 2030. Guide Price: £2,000,000+

Lot 96, London, SW1 – Prominent Former Building Society comprising 204 sqm (2,220 sqft) GIA offered with full vacant possession. Guide Price: £1,250,000+

Lot 97, Newquay – Jewson trade counter let until 2031 at £103,151,48pa with minimum RPI linked increase in August 2016 to £114,204.60pa. Guide Price: £1,700,000+

The commercial auction team has already achieved the biggest half year result since 2007 and also report being 62% ahead of last year’s “to date” results.

Looking ahead, investors are now being invited to submit entries for Allosp’s next commercial property auction on Monday 10th October 2016.