Buyers targeted regional investments and
receivership lots as Acuitus's sixth and final commercial property
auction of the year raised just under £18m.
Acuitus auctioneer, Richard Auterac, commented: "Throughout the
year investments in London have been predominantly at the top of
buyers' lists, but it was interesting to see at this auction that
there was also demand for substantial investments in major cities
throughout the UK including Liverpool, Southampton and
"This demonstrates that buyers are more receptive to a variety
of opportunities than the current received wisdom might indicate.
This was further borne out by the sale of three unoccupied office
buildings all of which were outside London.
"Bidding was also competitive on the receivership lots in the
auction and all of the properties entered by receivers sold well.
Among these was the outstanding sale of the day: the ground rent
investment in the Travelodge Hotel in Harlow which sold for £1.875m
reflecting a yield of 3.5%."
The continued strength of demand for assets in London and the
south east was demonstrated by the £1.25m sale of a public house in
Wembley let to Barracuda Pub Company at £200,000 above its guide
price, and the sale on behalf of recievers of a freehold shop let
to Ladbrokes on Chatham High Street which was bought for £772,000
at a yield of 6.7% and almost 25% above its guide price.
The success rate of the auction was 61% and the average sale
price of the income-producing investments was just over
Acuitus December auction highlights:
- A hotel ground rent investment in
Harlow let to AXA UK Pension Trustees Corporation until 3002 sold
for £1.875m at a yield of 3.5%
- A freehold shop on Chatham High Street let
to Ladbrokes until 2021 sold for £772,000 at a yield of
- Two leasehold shops on Southampton's
Above Bar totalling 7,499 sq ft and let to JD Sports and
Rush Hair sold for £1.15m at a yield of 9.6%
- Three landmark office blocks in Gateshead with geared rent reviews sold for £930,000 at a
yield of 8.49%
The first Acuitus auction of 2012 will
take place on February 23rd at The Millennium Hotel, Grosvenor
Square, London, W1, and already includes lots representing total
income of £1.1mpa.
For further details, please contact any of
the Acuitus team.