The Acuitus auction on March 25th will feature 47-lots with guide prices ranging from £5m to £35,000.
Nine lots are offered with guide prices of more than £1m and the sale features a wide range of investment and development opportunities.
Acuitus Chairman, Richard Auterac, comments: “A combination of the progress of the vaccination programme, the roadmap out of lockdown and recent budget measures have helped bring more confidence back to the market. This move to greater level of normalisation is reflected in the larger volumes of properties that we are now seeing flow into the auction room”.
The lots for the auction include a substantial office and industrial investment with residential redevelopment potential at Maldon in Essex. ICS House – a Grade II-listed former mill converted to offices – together with two separate warehouse buildings and parking, currently produce annual rental income of £449,456 and is being offered with a guide price of £5m to £5.25m. An indicative plan showing how the site could be redeveloped into of 32 flats and 19 houses has been prepared.
Another industrial property in the sale that offers residential redevelopment potential is a 0.48-acre site in Sunleigh Avenue, Alperton. Close to Alperton Station, the property currently produces annual income of £115,000 and has planning consent for a nine-house redevelopment. It is offered with a guide price of £1.95m.
Richard Auterac comments: “A growing number of experienced investors are looking for properties which offer good ‘meantime’ income but also have longer term potential for conversion or redevelopment”.
Also being offered is a substantial shopping centre investment in Sheffield. The Hillsborough Exchange shopping centre comes 98% let to tenants including Boots, Superdrug, Wilko, Home Bargains, Holland & Barrett and Specsavers and comprises some 90,000 sq ft. It is being offered with a guide price of £2.25m and produces annual income of £823,379.
Other lots in the sale include:
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.