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.
Highly regarded 2 AA rosette restaurant and function/ wedding venue. AA 5 star guest accommodation rating. Purpose built bedroom block (1999). High quality fittings and equipment. UPVC double glazing with window blinds. Gas fired central heating. Bat...
FREEHOLD
Renowned Estate Agent based in a small town in Kent. They provide a comprehensive range of property services consisting of Sales, Lettings and Property management. This business is a true old school brand with minimal marketing taking place which sho...
Estate agency based in the West Sussex region with 2 branches in 2 market towns within 10 miles of each other. The business is comprised of a team of 7, they operate both a sales and lettings arm. They primarily rely on word-of-mouth referrals howeve...
28
|
Nov
|
Assets to be sold following scaffolding firm’s collapse | ADMINISTRATION
Administrators are seeking to sell the assets of a Midlands ...
28
|
Nov
|
Environmental services firm sold to PE-backed compliance group | BUSINESS SALE
Brownfield Solutions, an environmental services firm with of...
28
|
Nov
|
Walsall health firm acquires 36 former Lloyds pharmacies | BUSINESS SALE
Jhoots Pharmacy, a community health business based in Walsal...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.