Leading 海角视频 property auctioneer Allsop is continuing to see investors from across the globe flock to its sales as property owners put their assets under the hammer.
Having raised just short of 拢1 billion in 2021 for real estate owners selling commercial and residential property at auction, the 116-year-old auction house is continuing to see impressive results as investors turn to auctions to safeguard their cash.
Mark Gower, commercial auction partner at Allsop, explains: 鈥淒espite the challenging economic circumstances, the appetite among private investors has remained strong this year.
鈥淎mid the rise of inflation, investors value real assets and this trend couldn鈥檛 be more clearly demonstrated in the success we鈥檝e seen so far this year.
鈥淚n fact, we sold an average of 91 per cent of lots in our commercial auctions in the first three months of 2022. It鈥檚 a testament to the attractiveness of auctions for investors who are willing to pay a premium for the effective, quick process that auctions bring.鈥
Allsop attributes part of what makes auctions so attractive is the range of assets on offer.
In its May commercial property auction, buyers chose from a variety of lot types across the country, including retail, pharmacies, offices, industrial, logistics, and mixed-use schemes.
Gower says: 鈥淭he expertise and strong networks we enjoy within our team have always been a constant and they are the product of us having led our market for over 50 years.
鈥淢oreover, it is the volume of data on buyers, sellers and properties that we have always collected and actively used which sets us apart.
鈥淥perating online as we do today has enhanced the quality of this data and gives us unparalleled visibility. And these advantages are what enables us to bring a huge range of investments to auction.鈥
With the majority of its sellers in 2021 being privately-owned property companies, Allsop states that it still sold some 拢64 million of commercial property to institutions and funds, more than 拢130 million of property on behalf of asset managers, as well as millions more for high street retailers, banks, and receivers.
The auction house, which also works in partnership with Allsop鈥檚 private treaty investment teams to open up further opportunities before auction, sells properties on behalf of thousands of businesses and individuals every year, with sales that often take little more than two months to complete.
With no end in sight to challenging economic circumstances, and real estate鈥檚 effectiveness as an investment class, it looks like the auction 鈥 one of the oldest ways to sell and purchase assets in the world 鈥 will continue to go from strength to strength.
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