Property Investors get over 10% yield at Commercial Auction
On Thursday 18th October 2012, PropVestment attended the Acuitus Commercial Real Estate Auction in The Millennium Hotel in Grosvenor Square, London. We were present with a client interested in a couple lots, that unfortunately were outbid. However the observations told an interesting tale about the UK commercial property sector in particular the expectations of investors.
The first observation was that there was twice as many people as there were seats, leaving us to stand. This shows that the number even took the auctioneers and the hosts by surprise.
Although there were over 50 lots on offer, we could only stay to see the first 30 on offer.
Out of which 22 sold with 8 Reserve Not Met, a success rate of 73%, much higher than other recent residential auctions we have attended.