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%).  

Partner and 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.   “Interestingly, nearly 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 7RL.