OSBORNE KING PLACED 6TH IN THE UK TOP COMMERCIAL AUCTIONEERS IN 2015
20 January 2016
Osborne King, Northern Ireland’s largest independent property consultancy, has been ranked 6th in the UK’s listing of UK Top Commercial Auctioneers for 2015 according to figures released recently by the Essential Information Group (EIG). It is the only independent Northern Irish property consultancy to feature on a list dominated largely by London-based companies.
(Source EIG and Estates Gazette 16th January 2016)
The company has been actively involved in auctions since 2011 and has enjoyed an overall success rate of 93% since then compared to the UK average success rate of 77%. Its last auction, which was held in November 2015, achieved a 98% success rate and featured lots ranging from residential and commercial premises to agricultural and development land across the province and the border counties. On the day, sale prices comfortably exceeded their maximum reserve prices in a significant number of cases and raised approximately £6.2 million.
Mark Carron, head of Osborne King’s auction team, commented, “There is no doubt in my mind that confidence is growing steadily within the property market. We have a large number of repeat buyers and bidders at our auctions, however, we are also noticing the emergence of new buyers who have not engaged with the auction process until now. “
Continuing, he added, “Undoubtedly a greater availability of finance is helping to drive demand for development land in particular, which was in evidence during our last auction back in November. With potential yields of up to 10%, property is still an attractive proposition especially when compared with other investment vehicles provided you are prepared to take a medium-term view. Selling property at auction in Northern Ireland has become more popular and is now a commonly accepted sales method.”
The company’s next auction will take place on Wednesday 23rd of March 2016, details of which will be available nearer the date on www.osborneking.com/auction