Colliers’ auction sales reflect depth of market interest

Colliers CRE sold 94% of the 62 commercial properties on offer at an auction held at Haydock Park Racecourse, with a total value of almost £5m.

Matthew Mears, director of auctions at the Manchester office of Colliers CRE, said rival firms from the North West achieving sales percentages of as little of 53% of their stock at the auction.

Mears said: "Our success at the auction proves that there are still healthy numbers of individual and investor buyers out there.

"There is still a strong market for small development sites and ground rent investments in the North West.

"But buyers remain selective and we strongly advise those wanting to sell to think very carefully before putting a property into auction.

"They should be completely clear on the expected level of sales because if a property is not sold there is great potential for it to be blighted in the market and to suffer a fall in value."

A small number of residential properties available at the auction were acquired primarily by buy-to-let investors.