DevDosh Ltd recently found The UK commercial property auctioneers Allsops saw it latest property auction prove to an unmitigated success, investors came out in droves looking for the next property bargain in London
The auction was a hive of activity with investors there bidding in person, online and over the phone competing for the lots on sale that day, this surge from investors looking for well-let assets saw the auction room take a total of 83.5 million GBP in just one day.
All real show of confidence in the UK property market, one that takes the overall amount of money raised this year to a staggering 345 million GBP, not a small amount of money by anyone’s standards.
The companies success rate is a massive 84% of lots sold, a sure sign that consumers and investors are once again looking to UK property as their investment of choice, due in no small way to the lack of confidence in other financial markets like stocks and shares.
The lots that proved most popular were the high value ones at 1 million GBP plus with a total of 23 properties selling for this amount or more.
DevDosh Ltd also seen one of the biggest properties sold that day was an office building in Saint Albans city center, Saint Peters House sold for a mind blowing 7.1 million GBP, well above its guide price of 5.5 million GBP.
In DevDosh Ltd opinion, Investors were not just buying properties in London as well-let investments outside of the capital performed exceptionally well in areas like Derby and Huntingdon.
George Walker, Auctioneer and Partner at Allsop, said: “With the general election behind us, investors returned to the auction room with renewed vigour and optimism.
“Investors continued to seek high-value, high-quality, better-let assets, with competition for the larger lots in good locations very much in evidence, making our July sale one of the more successful auctions so far.”
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