Allsop Commercial has posted its second largest May sale in ten years after 124 lots were sold at a total of £94.6m. 31 lots were sold for over £1 million, helping to bring the running total for 2017 to over £250 million.  

The highest value lot was a substantial Barclays Bank in Basingstoke town centre. Let at £200,000 per annum until 2026, it sold for £3.34 million at a net initial yield of 5.62%.  

Partner and Auctioneer George Walker commented: “The buyers were focusing on the strongest tenants and best let investments to give solid returns for them over the next 10 years or more. Investor appetite for the best stock was as strong as ever, with some hesitancy clearly being shown where either length of lease or the quality of the tenant was in doubt.”  

Other notable lots on the day included: a residential care home in Newport let to Coverage Care Services Ltd at £215,00 per annum until 2040 (without break), which raised £2.65 million (7.62%); a purpose built Waitrose supermarket with a 136-space car park in Melksham, Wiltshire, which sold for £3.25 million (6.79%); and an office building in Sheffield let at £430,000 per annum and with permitted development consent for 44 apartments, which raised £2.54 million (15.91%).   Allsop Commercial’s next auction will take place on Monday 10 July.