Get in touch with Allsop (Commercial) Auctions
No matter what type of commercial property you might be trying to sell, Allsop (Commercial) Auctions has plenty of experience with hosting auctions of commercial properties. The company says it has a solid success rate with selling properties at its auctions, for example claiming that it sold 97 percent of listed commercial properties at its July 2021 auction for a total transaction value of more than £77 million.
And regardless of what time of year you are looking to sell your commercial property, Allsop (Commercial) Auctions will likely be hosting an auction that’s convenient for you. The company hosts auctions throughout the year, as frequently as every month or every other month. Auctions are currently taking place online and are livestreamed, allowing people to place bids remotely, and they have lots of experience with making sure streaming auctions run smoothly.
The company has also been holding auctions for more than 100 years, and prides itself on its long history of successful sales – including for commercial properties. It was established in 1906 and the company says that it is the UK’s largest property auction house. It has 22 equity partners, handles an average of eight transactions a day, and has offices in London and Leeds, so no matter where in the UK your property is located, they might be able to sell it at an auction.
Telephone number: 020 7543 6780
Email: https://auctions.allsop.co.uk/meet-the-commercial-auction-team
Website: https://auctions.allsop.co.uk/commercial-auction-view
Address: 33 Wigmore Street, London W1U 1BZ
Important information to learn about commercial property auctions
Auctions can be a viable way to find a buyer for your commercial property regardless of its size and potential sale value. That’s because auctioneers typically have at least several years of experience with selling many different varieties of commercial properties. Examples of some of the types of commercial properties that have successfully sold at auctions include pharmacies, trade centres, supermarkets, high street shops, industrial parks, leasehold offices, and many other examples.
When you enter your commercial property for sale at an auction, you’ll agree to a minimum reserve price which is the lowest value at which you’re comfortable with your property selling. If your property fails to receive any bids at this level during the auction then it will not sell. But if it receives at least a bid at the reserve price then it will sell, because such a bid is considered a legally enforceable agreement to buy your property. But the goal is to have several people interested in buying your property, which should hopefully push the final sale price above whatever minimum reserve price you approved.
You might have to wait a few weeks after you list your commercial property for sale at an auction until the sale takes place. And you could have a delay of at least several weeks after a successful auction until all of the required legal paperwork for the sale can be completed.
Auctioneers will also charge you commission which covers the cost of their efforts in advertising your property before the auction, as well as hosting the auction to sell your property. It’s important to budget for these fees because you’ll have to subtract that amount from the net profit which you can expect to make when selling your property through an auction.
Top queries about selling your property through Allsop (Commercial) Auctions
Yes, if the auction house sells your home, then they will charge fees that cover the cost of the work that the company has done to list and promote your property, and to host the auction. However, you might be able to pass these fees onto the winning bidder.
Allsop as an auction house was first established in 1906 and has been selling properties ever since, with separate operations handling commercial and residential property sales.
