Allsop’s latest property auction, held last week at The Park Lane Hotel in London showed strong appetite from investors for commercial property, despite Brexit fears.
The auction raised £66.7m on 128 lots, including post auction sales, with a success rate of 84%, which is higher than the 80% achieved in Allsop’s July commercial auction last year.
George Walker, Partner and Auctioneer, said: “Auctions are a barometer of the market and our latest auction attracted a lot of attention from commercial investment teams from banks, pension funds and private equity funds, all looking for an indication of market sentiment in the property sector. But, as the day unfolded, the auction revealed strong, competitive interest from private investors, who were bidding with their wallets.
“Furthermore, the high success rate with no change year-on-year shows that investors remain undeterred in direct commercial property investment, despite the uncertainties of Brexit.”
Allsop’s next auction will take place this Wednesday at The Cumberland Hotel in Marble Arch, London, and will feature 248 residential properties for sale.
Allsop Residential’s July UK residential catalogue is available to view by clicking here.
You can also check out how the property market has fared in recent months.