Commercial auctions
Commercial auctions
The commercial property investment market is growing steadily. Figures are still on the increase, refuting the prediction of early 1999, that a downward shift was inevitable. The number of commercial properties sold at auction has increased by 2 per cent during 2000, compared to 1999, according to the latest FOCUS Auction Guide Analysis. The total value of all commercial lots sold,however, increased marginally by £3,097,589 (0.3 per cent).
Duncan Moir, Partner and Auctioneer at Allsop, comments: "The bare bones of the commercial results make encouraging reading; volume is up 2 per cent to 3947 lots sold. Realizations are also up from £990 million to £993 million … This is an indication that pricing by auctioneers and their clients is not racing ahead of purchaser demand, a very healthy sign."
The FOCUS Analysis also shows a fall in the average value of commercial lots by 0.55 per cent from £253,052 to £251,667, but overall success rates have substantially improved from 72.5 per cent to 77.3 per cent.
The Auction Guide Analysis, the established industry benchmark for auctioneers, is enclosed. Full copies of the report are also available from FOCUS on 020 7839 7684 or e-mail sales@focusnet.co.uk
