Steve Jones comments on Allsop’s March Auction 2011

Allsop’s March auction produced a success rate of 73.5% compared with 70% in February and 80% in December 2010.

Allsop commented that sales in the room were again predominantly to new investors, which seems to confirm that seasoned investors are perhaps ‘keeping their powder dry’ awaiting an increase in interest rates and the arrival of distressed sellers later in the year.

Once again, London based properties and properties let on longer leases to better covenants proved to be the most popular, which is unsurprising with current world events.

Only 4 bank investments were sold, compared with 10 in February with an average yield of 5.82% compared with 5.94%.