At nearly £194m, the value of commercial auction market transactions in the February/March auction round was up over 11% on the December 2016 period. The number of lots sold in the room totalled 331 was also up, by 15% and more than a fifth ahead of the same period in 2016.
The latest cPad Index indicates that vendors are choosing the auction room for a broadening range of investment grade stock. The retail sector represented 60% of sales by value, well below the long run average. In contrast, the number of office properties sold in the latest auction round was almost double the long run average. While this included a wide range of assets, the number of higher value lot sizes is notable: over a quarter were in excess of £1m in value.
Source : MSCI