Investors "pouring" money into property – commercial mortgages

21 November 2006

A growing number of investors, such as those with commercial mortgages, are choosing to purchase property during auctions, according to an expert.

Speaking to Blackpool Today, George Walker, partner at Allsop, said that despite reports suggesting renewed confidence in the stock market, recent figures show that commercial property is becoming increasingly popular.

Allsop''s most recent auction in October was the biggest commercial auction in the UK, raising £178 million, Mr Walker stated.

Commenting on the market, Mr Walker said: "In reality… 2006 is proving to be another popular year for auctions with investors pouring money into commercial property."

Following the successful auction last month, Duncan Moir, partner at the firm, said that demand continues to be strong while supply for commercial property remains "tight".

The company sold an office complex in Lavender Hill, the largest lot sold during the auction, for £5.71 million.