Catalogue launched for February auction

23rd January 2014

Acuitus has launched the catalogue for its first auction of 2014.

The catalogue – which can be viewed here – will offer 36 lots encompassing a wide range of retail, office, industrial and leisure assets currently producing total rental income in excess of £2m.

The assets for sale represent a wide geographic spread across the UK and a similarly extensive range of investment opportunities with guide prices from £75,000 to £1.25m.   Lots featured in the auction have been entered by vendors including The Defence Infrastructure Organisation, Sapcote Developments, F&C REIT, M&G Real Estate, The Co-operative Estates, Prezzo plc, Cushman & Wakefield Investors, Wesleyan Assurance Society together with LPA Receivers and Joint Fixed Charge Receivers at DTZ, GVA and Fairacre.

Properties in the auction include:

  • Co-op Foodstore, Mulbarton, Norwich: 6,090 sq ft foodstore investment let to Westgate Properties (guaranteed by Anglia Regional Co-operative Society) until 2027 (subject to option)  and currently producing total income of £72,000pax. Guide price: £1m+
  • Prezzo, High Street West, Dorchester: 2,746 sq ft restaurant investment let to Prezzo plc on a new 25-year lease until 2039 (no breaks) at a current rent of £60,000pax rising to a minimum of £65,000pax in 2019. Guide price: £870,000
  • Mecca Bingo Halls in  Scarborough Blyth Rotherham:  Producing respective incomes of £170,993pax, £111,868pax and £148,967pax. All let to Mecca Bingo until 2021 with RPI linked rent reviews in 2016. Guide prices: £1m, £850,000 and £730,000
  • HSBC & West Bromwich Building Society, Bristol Road South, Birmingham: Freehold banking investment plus four self-contained flats (one vacant) producing total current income of £115,800pax. Guide price: £1.25m

Stuart Buchanan of Acuitus Finance can quote financing terms for all lots in the sale, and can be contacted on 07879 432868 (stuart.buchanan@acuitus.co.uk).    The auction will take place at The Millennium Hotel, Grosvenor Square, London W1 at 2pm on February 13th.