Retail and development opportunities lead in latest Acuitus sale

28th October 2024

A wide range of investment grade assets and development opportunities are being offered in the latest Acuitus commercial property auction which is being held on 7th November.

A freehold supermarket investment in West Drayton, London, UB7 is being offered with a guide price of £1.3m-£1.4m at a yield of 6.83%. The current lease with Tesco Stores generates £88,772pa, expiring in September 2031 with no breaks and benefiting from an important RPI-linked rent review in September 2026.

Charlie Powter of Acuitus comments: “This prime asset will attract significant investor attention for its strong location, covenant, and undoubted future development opportunity.”

A number of other London locations feature throughout the catalogue, including a dentist investment in Belsize Park, NW3, which has a guide price of £575,000 at yield of 9.17%, while a veterinary practice in Bermondsey, SE1, is being offered with a guide price of £350,000+ at a yield of 7.89%.

Further prime freehold assets being offered in the catalogue include a purpose built KFC drive-thru in Northwich, Cheshire; a Co-op supermarket investment in Banwell, Somerset; and a mixed use office/retail asset in Wokingham, Berkshire.

The largest lot of the catalogue is a development opportunity in Tetbury, Gloucestershire. The freehold of a substantial 5.66-acre industrial estate is being offered with a guide price of £3.5m and currently produces £414,692pa.  

John Mehtab of Acuitus comments: “This asset is already in close proximity to recent residential developments and, subject to consents, may be suitable for residential or commercial redevelopment.”

Selling on behalf of a Cambridge University College, the auction also includes a portfolio of 14 ground rents (to be offered separately). All except one of the assets are located in Leeds and guide prices range from £5,000-£500,000.

Jon Skerry of Acuitus comments: “These assets offer a once in a lifetime opportunity to purchase the freeholds of these valuable sites – while the asset in Commercial Road, Portsmouth, comprising 1.5 acres of the city-centre, will attract the attention of investors who value established retail ground rents in secure retail districts”.

In Scotland, a number of development opportunities are being offered in Glasgow, Lockerbie, Elgin, Perth, and Aberdeen.

Richard Auterac of Acuitus comments: “This latest catalogue offers a wide range of assets for both entrepreneurial buyers looking for development opportunities, and for those looking for income secured by sought after tenants.”

The auction will take place on Thursday November 7th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.