The forthcoming Acuitus commercial property auction will feature 40-lots with guide prices ranging from £50,000 to £4m.
The sale on September 24th features a wide range of asset types including development opportunities, retail, banking, leisure and medical investments.
Acuitus Chairman, Richard Auterac, comments: “Assets occupied by businesses that provide for the day-to-day needs of a local catchment continue to be in demand. We are also now seeing a strengthening of demand across a wider range of geographic locations”.
The largest lot of the auction is a freehold petrol filling station investment in Willesden, London NW10. Let on a new 30-year lease to Euro Garages with no breaks and fixed rental increases throughout the term, it produces annual income of £180,000 and is being offered with a guide price of £4m-plus.
Acuitus Director, David Margolis, comments: “Investors are drawn to the long-term income that these investments provide and also, in this instance, the fact that the asset also encompasses a Spar convenience store with Starbucks and Subway concessions and is located on a busy road on the approach to the North Circular A406”.
The sale also offers two substantial shopping centre assets. The Royal Arcade on Gentleman’s Walk and Castle Street in Norwich comprises 20 retail units totalling more than 32,000 sq ft. It produces current annual income of £267,300 and has a guide price of £1.25m. Acuitus Director, Peter Mayo, comments: “This is an opportunity to buy a very attractive Grade II-listed retail arcade with asset management opportunities”.
The St Elli shopping centre investment in Llanelli which let to occupiers including Sports Direct, Wilkinson’s, Greggs, Card Factory, Poundland and Principality Building Society also features in the auction. Producing current income of £632,677pa, it has a guide price of £1.95m. Acuitus Director, Charlie Powter, comments: “Shopping centres in key locations are attractive to private investors. Both of the centres offered in our sale benefit from strong locations and their tenant mix”.
A portfolio of seven recently dental surgery investments will be offered individually across locations including Wareham, New Milton and Bournemouth. They are all let on new 15-year leases (subject to options) at re-based rents and produce annual income ranging from £12,500 to £30,000. Their guide prices range from £180,000 to £575,000.
Other lots in the sale include:
The auction will take place at 11am on September 24th and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
