The latest Acuitus Commercial Property Auction Data (cPad) report shows that the first quarter of 2023 saw 287 lots sell at auction for a total of £175m, significantly above the 10-year Q1 average of £150m.
Acuitus chairman and auctioneer Richard Auterac says: “Since the end of the first quarter of 2023 a steady increase in optimism across the market has been seen, and one would expect to see a further rise in market activity leading up to the summer”.
The cPad All-Property prime yield and secondary yield have remained largely unchanged, with prime at 6.06% and secondary at 9.38%.
The full Q1 2023 report can be downloaded here.
