Three assisted living assets in East Anglia are being offered with guide prices ranging from £800,000-£2.25m at the Acuitus property auction on October 29th.
The freeholds of three specialist care assets, two in Thetford and one in Bury St. Edmunds, are among the 51 lots in the sale catalogue and are being offered on behalf of a major fund. All three properties are currently leased by the Royal Mencap Society on a lease running until 2035, and benefit from annual CPI-linked rent reviews with a 1% collar and 4% cap.
Jon Skerry of Acuitus comments: “Assisted living assets such as these benefit from strong covenants, demographic demand, underpinned by local residential values and potential policy support. We expect to see strong investor interest in these lots”.
The October catalogue also features 10 properties from across the capital, with two mixed-use assets in South-West London – both with development potential – being offered in Fulham and East Sheen at guide prices of £2.25m and £1.5m respectively.
John Mehtab of Acuitus comments: “Properties in the capital are always popular with investors, especially those in strong locations and with development potential to boost income”.
A Travelodge hotel at Aberdeen airport is one of a number of alternative investments being offered in the sale. The heritable investment comprises 40 bedrooms over ground and first floors together with around 100 parking spaces. The property has a total rent of £224,204pa and is being guided at £1.6m.
In Bournemouth, a town centre multi-storey carpark with 236 parking bays is being offered on behalf of a local authority with a guide price of £1.25m. The property is held for a term of 999 years from 2002 and a rent reserve of £199,450 per year.
Elsewhere in the catalogue, a portfolio of five industrial ground rent investments in the Leeds region are being offered on behalf of a Cambridge University College with guide prices ranging from £15,000-£400,000.
Charlie Powter of Acuitus comments: “We’re delighted to once again be working with our client in presenting these sought-after industrial ground rents to the market and we expect to see substantial interest from investors and the occupiers of the units”.
Other industrial assets within the catalogue include a fully let freehold industrial estate in Cirencester with a guide price of £1.35m-£1.4m, and produces £110,800 in annual rental income, and a freehold production facility in Coningsby, Lincolnshire which is being guided at £700,000 and produces £93,764pa from a single tenant.
Acuitus Chairman, Richard Auterac, comments: “Our catalogue signals that sellers are looking to capitalise on the potential buying power in the market and have brought a wide range of sector assets to the sale.
“Those assets with development potential and those with strong locations and covenants will continue to attract buyer attention, subject to appropriate pricing and an understanding of local economic dynamics.”
The Acuitus auction will take place on Thursday October 29th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
