Earlier this week we published an article regarding Allsop who successfully auctioned off 396 commercial properties in six months, but it seems they are not the only ones having success at the moment.
CBRE have raised over £102 million in the last ten months by successfully selling properties at auction.
CBRE have had four auctions in total since they first launched in November 2011 and have sold 157 out of the 222 commercial properties listed for auction.
Speaking of the achievement, John Townsend, Executive Director at CBRE, said: “We are delighted to have broken the £100 million barrier after just 10 months from a standing start and ahead of our initial projections.”
This is a great accomplishment in just ten months and gives the firm a 70 per cent success rate at auction.
Chris Mills, also an Executive Director, added: “Over the first ten months we have witnessed some highly competitive bidding where buyers have clearly been motivated by vendors who have adjusted their aspirations to current market conditions.
“Pricing remains critical and both banks and receivers have seen that that the auction process provides a fast and efficient route to marketing a wide range of properties throughout the country in a short space of time.”
CBRE’s next auction will be held at the Millennium Hotel in Grosvenor Square, London on 17 October 2012.
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