Property investors look to UK market

Fancy buying a dental surgery in west Scotland or a fashion store in south east London?

These are just two of the UK property investment opportunities which will go under the hammer at auction in Belfast next week - and there'll be no shortage of takers.

For while the Northern Ireland residential property boom continues, many investors are turning to invest in the commercial sector.

But with a shortage of stock here, there's an growing interest in tapping into markets in the rest of the UK.

Next week's auction - organised by Osborne King estate agents - has 66 lots up for sale at a combined estimated value of £100m.

Seventeen of these are commercial sites and development land in Scotland and England.

Osborne King's investment department director, Andrew Coggins, explained why local investors are looking further afield.

"It seems that people in Northern Ireland hold on to stock for longer for a number of reason, including a desire to keep it in the family," he said.

"The UK market is very attractive for Northern Ireland investors especially when the stock is limited here and they often get better returns for their money."

And according to Mark Carron, Osborne King associate director, the trend for buying commercial property by public auction is set to continue.

"The key to a successful auction is being able to select properties that appeal to investors and developers right across the property spectrum," he said.

"We've been working hard to ensure that we have the right mix and quality of property."

€ The auction takes place next Friday at the Holiday Inn, Ormeau Avenue, Belfast, from 11am. For more details visit www.osborneking.com/auction.asp.