Jones Lang LaSalle Netherlands said it raised around EUR 17 mln from its first 'combined' commercial property auction, whereby investors were able to bid in person as well as online and via telephone. The auction attracted 'forced' and regular sales from investors who opted for the auction room is the best channel to dispose of their real estate holdings. The initiative is the result of a considerable requirement within the Dutch market for transparent and low-threshold auction processes for commercial property.
Jones Lang LaSalle Netherlands said it raised around EUR 17 mln from its first 'combined' commercial property auction, whereby investors were able to bid in person as well as online and via telephone. The auction attracted 'forced' and regular sales from investors who opted for the auction room is the best channel to dispose of their real estate holdings. The initiative is the result of a considerable requirement within the Dutch market for transparent and low-threshold auction processes for commercial property.
Commenting on the auction, the first of its kind in Continental Europe, Marijn Snijders, Chairman of Jones Lang LaSalle Netherlands, said: 'In the wake of the global financial crisis and the economic recession, our "combined" auctions appear to be a perfect response to a market need. This was confirmed by the considerable interest generated by this commercial property auction. The Internet played an important role and we anticipate this to become increasingly important in the future, as more property owners chose to sell via this kind of auction. At the moment the Internet is principally used to provide information and marketing materials, but we expect it to be possible, in due course, to convert our auction system into an online system.'
