With 87% of the properties on
offer sold, Allsop Commercial’s October auction proved to be their largest
one-day sale since 2006. With a total of 201 lots now sold, 32 of which were
for at least £1 million, close to £117 million has been raised.
The biggest sale of the day was a
parade of shops, flats and an office in London SE13, which raised £6 million,
at a yield of 4.8%. Meanwhile, a day nursery in Luton, let to Bright Horizons
Family Solutions Ltd at £104,744 per annum was sold for £1.84 million (5.25%).
Auctioneer Duncan Moir commented: “We anticipated a solid result from our first
sale of the autumn season despite the prevailing economic uncertainty, but the
strong showing from investors exceeded all expectations.
”It was standing room only, with
an estimated attendance of over 500 people throughout the day, and the demand
was clearly evident from the start.
three-quarters of buyers said they did not require finance, the highest we have
ever recorded; and encouragingly looking forward, over 93% of purchasers said
they would like to buy again.”
Other notable lots on
the day included a McDonald’s drive-thru restaurant in Keighley; let at £73,525
per annum until 2026, it sold for £1.42 million. A parade of five shops and ten
flats in London W5 sold for £1.7m (5.2%) and a prominent corner building in
Hove comprising two shops and seven flats sold for £1.82m (5.25%).
Allsop Commercial’s final auction for 2016 will
take place on Tuesday 6 December at The Berkeley, Wilton Place, London SW1X