We closely monitor the commercial property auctions from both Allsop and Acuitus, they offer regular real time insight into what is going on in the sub £5m commercial property sector. Bidding, demand and pricing is totally transparent and it helps us both at credit and throughout the life of a loan.
Yesterday Allsop Commercial Auctions held the UK’s largest online property auction selling 110 lots and raising £93m, reflecting a success rate approaching 80%. It is the best on the day result since October 2018.
There was lots of competitive bidding with 33 lots reaching £1m or more, including Lot 12 a shop, Flavourtown Bakery, with vacant offices above which sold for £1.64m. This is just round the corner from our offices and we are regular customers when there is a birthday or celebration in the office.
