Below are the key points from an article written by John Townsend in this week’s free issue of the Estates Gazette. To read it in full click here.
- The UK’s major commercial property auctions raised £103m at the end of March in two days of competitive bidding across all sectors
- With investor confidence and greater financial fluidity at levels not seen for 8 years, there is a real buzz in the auction room
- A new audience of first-time elderly buyers was noted thanks to the pension freedom reforms introduced on 6th April
- Whilst London remains the buyer’s favourite location, as much as £30m was raised in regional transactions at Allsop’s auction
- In the last quarter of 2014, the average retail yield in auction compressed from 9.1% to 8.3%
- The overall IPD UK Retail Property Auction index rose by 10.9% in 2014, outperforming the wider retail property market.
