London lots to feature at Acuitus May auction

19th April 2021

The Acuitus auction on May 5th will feature 40-lots with guide prices ranging from £20,000 to £6,250,000.

A total of 13 lots offered are located in some of London’s most fashionable suburbs with the sale featuring a wide range of investment and development opportunities.  Other nationwide locations represented in this auction include Hitchin, Bedford, Reading, Crawley & Croydon.

Acuitus Chairman, Richard Auterac, comments: “Transactions are picking up where the demand can be felt in key residential areas of London as a full-time return to the City draws closer for employees and students. Mixed-use offerings are in high demand where residential is available or conversion can be sought.”

The largest lot at the auction is a substantial freehold retail and residential investment in Southwark, London, SE16. The property at 257-265 Southwark Park Road comprises 14 self-contained flats and two retail units let to Nisa Local and Paddy Power. It produces annual income of £297,820 and is being offered with a guide price of £6.25-£6.5m.

Also being offered is a substantial freehold mixed-use investment in Hackney, London, E8. The fully let investment comprises 10,630 sq ft retail, restaurant, office and residential accommodation with asset management potential. The property produces an annual income of £241,800. It is being offered with a guide price of £2.9m-£3m.

Richard Auterac comments: “Property finance lenders are increasingly positive about assets which combine different uses and, of course, for buyers they represent a broader base of income streams. Accordingly, we’re seeing very strong interest in properties that offer a mix of occupier types”.

Other lots in the sale include:

  • Elms Industrial Estate, Bedford: Detached freehold industrial investment. Let to Terinex Limited on a full repairing and insuring lease expiring in September 2034 (no breaks). Producing £184,000 per annum rising to £235,267 in March 2022. Guide price: £2.75m
  • Holloway, London: Freehold retail and residential investment. Part let to tenant trading as Sky Gym & Cafe until 2029 (subject to option). Includes 6 flats let on separate AST’s. Producing £117,500 per annum. Guide price: £2.1-2.2m
  • Croydon, London: Freehold Retail Investment with Residential Development Potential. Ground and Basement let to Holland & Barrett Retail Limited until 2025. Producing £175,000 per annum with 2,595 sq ft Vacant Uppers. Guide price: £2m
  • Daisyfield Business Centre, Lancashire: Freehold Multi-Let Office Investment. Tenants include Lancashire Care NHS Foundation Trust. Producing £278,897 per annum plus 8,948 sq ft vacant. Guide £1.75m/£2m

The auction will take place at 2pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.