Allsop Commercial has had a
successful end to 2017, selling 114 out of the 149 lots on offer at a total of
£86.3 million, with 33 lots being sold for over £1 million. That result brings
the final total for the year to over £600 million.
The highest value lot on the day
was a majority vacant Grade II listed bank in Shoreditch, London E1. With
almost 730 sq m of space, and being ideally situated adjacent to the Shoreditch
Village Phase II development site, it sold for £4.1 million (£522psf).
Auctioneer George Walker commented: “The pricing of the larger assets was very
strong, with multi million pound sales being achieved across the sectors, including
vacant and let stock. Achieving £4.1 million for the former Shoreditch NatWest
from the neighbour in public auction was a tremendous result for the client and
concluded months of marketing for them.”
Other notable lots on
the day included: a multi let industrial estate in Reading with total rents of
£192,171 which sold for £2.42 million (Net Initial Yield 7.47%); almost 17,000
sq ft of offices in Waltham Abbey with lapsed consent for conversion to
residential, which sold for £2.87 million (4.80%); and a bank in central
Harrogate, let to Halifax Ltd until 2026 at £129,500 per annum, which sold for
£2.1 million (5.80%)
Allsop Commercial’s first auction in 2018 will
take place at The Berkeley, Wilton Place, Knightsbridge, London SW1X 7RL on
Tuesday 6 February.