Early online player Singer Vielle set to hit 150m pounds sales
Online property investment agency Singer Vielle is poised to celebrate its 10th anniversary by breaking through the £150m mark in online sales.
The firm, which sells commercial and mixed-use investment properties via private treaty on its website, uses its own Clicktopurchase technology to allow buyers, many of whom are private investors, to exchange online.
One hundred and thirty properties have exchanged online via clicktopurchase since Singer Vielle began using it in 2010.
Its record sale was an industrial and office investment in Derby, which sold for £12.1m in 2007.
Other large sales have included an office and data centre investment at Manchester Science Park, which sold for £5.93m from a guide price of £6.5m in March 2016, and a retail unit in Newcastle, let to McDonald’s, which sold for £6.8m from a guide price of £7.1m in the same month.
In June, Singer Vielle sold a pub in Kilmarnock, Scotland, for £890,000 from a guide of £825,000, and a bar with offices above in Wigan town centre for £480,000 from a guide of £500,000. These were sold at yields of 7.8% and 14.3% respectively.
Neil Singer, chief executive of Singer Vielle and Clicktopurchase, attributes the sales total to the firm’s early adoption of technology.
“The power and track record that Singer Vielle has established by embracing technology early is testament to the specialist team’s focus and energy towards a technical mindset, way ahead of the current proptech buzz,” he says.
“It is surprising that online execution is yet to be adopted by the majority of agents, given the role it plays in providing a superior service and validating the agent’s role at a time when it is under threat of change.”
Singer Vielle also sells its Clicktopurchase format to other agents. The most high-profile company to adopt the technology so far is easyProperty.
Singer Vielle is planning to release Clicktopurchase v2 this year, which it says will make the technology quicker and easier to use.