The Allsop Commercial Team reported a positive sales total of £102m following their latest auction held over the 19th and 20th October, with 210 investments on offer over the two days.

Firm bidding was reflected in their success rate of 83%, with 22 lots selling for over £1million. This latest auction result brings their total sales for 2015 to over £378m after five auctions with 672 lots sold to date.

This latest auction saw 11 industrial properties selling, the most so far at any auction in 2015. Several properties bought at earlier auctions also came back to the market, demonstrating continued strength and confidence in the market and generating short term profits for trading vendors.

Duncan Moir, Partner and Auctioneer, commented: "The positive October result shows that conditions for vendors are excellent. There is an increasing pool of cash rich buyers, keen to get further exposure to the commercial property sector. This presents a clear opportunity for vendors to tap into significant levels of demand, particularly for London and the South East, with competition putting strong downward pressure on yields."

The largest lot of the sale was Lot 87, a mixed retail and residential building in Wood Green, London N22, which sold for £2.55m (5.9% NIY), 13% over the guide price. A further interesting lot was Lot 148, a town centre bank investment let to HSBC in St Neots, which sold for £1.68m (5.95% NIY).

Their next sale will be held on Tuesday 8th December 2015 at The Berkeley, London.