Acuitus launches largest catalogue of year for July sale

29th June 2022

Acuitus launches largest catalogue of year for July sale

The Acuitus commercial property auction on July 12th will see the firm offer its largest catalogue of the year to date. The 48-lot catalogue features a wide range of properties including industrial assets, London retail investments and regional offices.

Acuitus Chairman, Richard Auterac, comments: “The size of this catalogue reflects the depth of investor demand and the fact that sellers are seeing that now is a very propitious time to bring assets to auction”.

The largest lot by price, with a guide of £3.75m-£4m, is the freehold of a 3.78 acre industrial/trade counter asset in Lingfield, Surrey. The lease is secured on the Grant & Stone covenant for a 15-year agreement without break at a current rent of £275,000 per annum. The lease also stipulates minimum rental increases in 2027 and 2032.

Acuitus Director Charlie Powter comments: “With an unusually long new lease in place and a location just eight miles from Gatwick, we expect this lot to generate substantial investor interest”.

The sale will also feature other industrial assets in Manchester, Teddington, Stockton-on-Tees and Aberdeen. The freehold of a warehouse in Manchester with eight years to run on a lease and current rental income of £125,000 has a guide price of £1.75m-£1.85m.

Elsewhere in the sale, the Burlington shopping centre in Bournemouth is being offered with a guide price of £1.9m. It currently produces annual income of £297,431 and encompasses 12 ground floor retail units; office accommodation on the three upper floors and a basement car-park.

High Street retail and leisure features prominently throughout the catalogue, with a range of lots in both London neighbourhoods and in the regions. A freehold Co-Op store in London’s Notting Hill which generates current annual income of £90,801 has a guide price of £1.55m-£1.6m.

In York, a 6,248-sq ft Grade II listed freehold at 2/2a Lendal that is let to Zizzi and Nola restaurants has a guide price of £1m-£1.1m. It currently produces £85,000 of annual rent.

David Margolis, Investment Director and Auctioneer, comments: “Interest in retail and leisure assets continues to grow. London has always been strong in this respect but now we are seeing an increased level of demand across the regions.”

The Acuitus auction will take place on July 12th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.