Thu, 13 Oct 2011 | COMMERCIAL PROPERTY
The number of commercial properties sold at the latest Allsop auction was at its lowest for three years, the auction house has reported.
The auction is seen as a key barometer of the health of the UK commercial property market and many property lots went unsold. Of 166 properties which went under the hammer, including shops, banks and warehouses, no buyers were found for 50 of them. Sales of properties at the auction generated £61.6 million.
The unsold lots included a former wine shop in London, a Liverpool warehouse and a Hereford charity shop. The sales rate at the auction was just 69.9 per cent, the lowest since 2008 when Lehman Brothers collapsed, followed by commercial property values.
The previous auction held by Allsop took place in July with an 82 per cent sale rate, which was in keeping with previous averages.
Duncan Moir, an auctioneer at Allsop, told the Telegraph that the recent auction results were “a clear indication that the market has adjusted". He said the auction house had witnessed a "pricing disconnect" between buyers and sellers after a "difficult" summer for the economy and property market.
This unique and renowned freehold bar and restaurant in the heart of York City Centre offers over 250 covers across its spacious interior, pavement seating, and a rare rooftop terrace.
FREEHOLD
A well established and strongly profitable engineering business, located in the Midlands. The company will be an attractive acquisition for both a larger trade buyer and also those looking for a stable engineering business.
This European pharmacy manufacturer specialises in providing custom clinical trial batches for leading pharmacy companies across the continent, playing a crucial role in their R&D efforts.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.