"Commercial real estate that reflects genuine market value continues to attract consistent, high-quality interest"
- Alex Neil - Allsop
UK property consultancy and auction house Allsop has announced that it raised £24m at its June commercial auction, achieving a success rate of 82%.
The highest-value transaction on the day was a mixed-use investment in Leeds comprising a restaurant with offices above and potential for residential development, which sold for £3m. A total of seven lots sold for £1m or more, while 11 lots achieved prices at least 10% above their reserve.
Investor demand remained resilient, particularly for well-located, well-let, and mixed-use assets, as well as those offering value-add opportunities or let at sustainable rental levels. Of the lots sold, 53% were located outside London and the South East, accounting for 45% of the total value, while the retail sector continued to dominate, representing 55% of lots sold and 52% by value.
Allsop’s latest buyer survey indicated that demand continues to be driven primarily by cash purchasers, with 83% of respondents stating they did not intend to use finance - up from 66% in May. Buyers were drawn from a broad geographic base, including international interest from Canada and South Africa, and 100% of respondents indicated an intention to purchase again in future auctions.
As the commercial auction team continues to expand in readiness for increasing market activity, Allsop has appointed Max Rabey as a Senior Surveyor. Rabey joins from CBRE, where he specialised in asset and portfolio management across a diverse client base, with a particular emphasis on the retail sector. His appointment reinforces the team’s capacity at a time of improving market sentiment.
“Against the backdrop of an evolving market, accurate pricing remains essential," explained Alex Neil, commercial auction partner at Allsop. "Commercial real estate that reflects genuine market value continues to attract consistent, high-quality interest.
"We’re seeing a clear investor focus on ‘flight to quality’ and value-add opportunities in prime locations. With our deep understanding of market dynamics and strategic approach to pricing and marketing, we consistently aim to deliver strong outcomes for our clients.
"The recent appointment of Max Rabey also further strengthens our team’s capabilities and ensures we remain well-positioned to meet growing demand and deliver best-in-class service."
Allsop’s next commercial auction will take place online on 17th July 2025.
