London office interior auction sales up, figures show

Office design news from Morgan Lovell

Published on 16-07-2010

The number of commercial properties being sold at auction in the capital has risen, new research has revealed.

Figures from the Essential Information Group (EIG) showed a year-on-year increase in both volumes and profit for office interiors going under the hammer over the three months to June 2010.

According to the statistics, there was a 28.9 per cent increase in the total amount of money raised from transactions, with £31 million accumulated over the three-month period.

Of the 81 lots offered over this time frame, 58 were sold - a 1.7 per cent rise on the preceding year.

Elsewhere in the UK, the north-west also saw a boost in its commercial property market, with the data showing a 10.1 per cent leap in profits.

The news follows an announcement by CB Richard Ellis earlier this month that quarter two activity in the central London office space sector improved over Q1.

Posted by Adrian Norman