A great deal of interest came from private investors. JLL European director and auctioneer Richard Auterac said: 'This latest [interest rate] cut to 3.5% is extremely positive for the commercial property market. There is currently a high level of unsatisfied demand in the market, which provides an enormous pool of capital for corporates wishing to release cash from their property assets through sale and leasebacks.'

Among lots that stood out, land at Leeside Road, Tottenham, London, which sold for £2.63 million ($4.29 million) a yield of 4.31%. Market town locations also proved to be highly popular with 25-29 High Street Guildford, Surrey, going for £2.13 million ($3.47 million) a yield of 5.78%, 9 High Town, Hereford for £1.41 million ($2.3 million) a yield of 5.53%, and 1-3 Castle Street, Salisbury, Wiltshire, for £1.4 million ($2.3 million) a 5.4% yield.

JLL national director and auctioneer Peter Cunliffe added: 'The average yield of all property sold in the room yesterday was 6.02% which is a healthy yield in this low growth economy.'