Allsop Commercial had a successful fifth sale of the year at their October auction, raising £113m with a success rate of 75% and an average lot size of £568,000.
They offered a total of 281 lots over the two days, making this the largest sale since July 2005. Strong results saw 32 properties sell for over £1m with 4 of those achieving over £3.5m.
The highest price achieved on the day was £5.08m for Lot 80, a mixed-use investment in East Dulwich, London SE22. At a guide price of £4.25m, there was competitive bidding for the prime located Co-operative supermarket with 10 self-contained flats let at a total rent of £279,747 pa.
Duncan Moir, Partner and Auctioneer, commented: “The strength of the market continues, with investors from the UK and overseas keen to acquire all grades of investment property. Pricing remains key as buyers continue to be selective, but demand for correctly prices assets is good”.
Following this auction, a total of 700 lots have been sold by Allsop Commercial in 2014, raising £432m at a success rate of 83%.
Their next sale, the last of 2014, will take place on Wednesday 10th December at the The Dorchester Hotel, London W1.