UK property investors remain active ahead of general election

Network Auctions’ first sale of the year at the Grosvenor House Hotel in central London saw the sale of 27 lots for a total of £5.38m - 66% success rate - in front of a packed auction room of excited bidders, including a number of property investors.

With a diverse range of land, residential and commercial properties from across the UK on offer, there was a really positive attitude in the auction room with several investors getting their target property under their maximum budget.

Auctioneer Guy Charrison was kept busy at the rostrum and sold lots from £12,000 for a piece of land in Colne in Lancashire to £1,025m for a mixed-use commercial lot on the Seven Sisters Road in North London.

Investors also snapped up lots in Middlesex, Buckinghamshire, Essex, Cornwall, Merseyside, Hertfordshire, Kent, Cambridgeshire, Devon, East Sussex, South Glamorgan, Powys, Bedfordshire, Hampshire, Cleveland, East and Aberdeenshire.

Toby Limbrick, managing director of Network Auctions, said: “With the general election campaigns and Brexit negotiations both underway, one might imagine a degree of caution and uncertainty in the market.

“However, our auction showed that, with the wide exposure Network Auctions are able to provide via our central and local network and prestigious London saleroom, excellent results are still being obtained.”

Network Auctions next London auction will take place at the Grosvenor House Hotel on Wednesday 5th July 2017.