Portfolio sales on the increase | 28 June 2011
Commercial property portfolio sales are back on the increase, according to new research.
Figures collected by Deloitte indicate that transaction volumes across the UK throughout 2010 totalled £6.02 billion, which represents a 33 per cent increase compared to the previous year.
The report tracked the sales of around 166 portfolios throughout 2010 and found that only a third of them failed to sell. It also shows that 2011 is already looking like a good year for portfolio sales, with 40 portfolios having already been marketed for £1.2 billion.
Speaking to Investor Today, head of UK business space investment John Rodgers claimed that the current was primed for buying in bulk.
He said: “The lack of prime assets in the market has created competition for portfolios of prime or good secondary property resulting in many instances in premium prices being paid after competitive bidding.
“Fund managers are keen to purchase a collection of reasonable quality assets in a single transaction.”
Big4.com reports that despite the improvements agents remain concerned that packages of secondary and tertiary properties could be difficult to sell in the current market.
Written by Joe Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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