A substantial leasehold interest of an Asda superstore in Carlisle is being offered at the Acuitus commercial property auction on June 11th with a guide price of £4.25m.
The 35,807 sq ft Asda superstore which is well positioned within the St Nicholas Gate retail park generates annual rental income of £771,722, rising to £894,657 in May 2028 and £1,037,175 in May 2033. The current lease which has no break option expires in May 2038.
Jon Skerry of Acuitus comments: “This prominent superstore investment offers strong income returns with fixed rental increases over the coming five-yearly rent review periods”.
On behalf of LPA receivers and in association with specialist London agency Compton, an imposing Grade II-listed freehold Mayfair property at 33 Clarges Street, W1, is being offered with a guide price of £5.25m which equates to an attractive capital value of around £1,200 per sq ft.
A prominent freehold hotel ground rent interest in Preston is to be sold at the upcoming auction with a guide price of £1m. The property comprises a Holiday Inn Express with 103 en-suite rooms, restaurant, bar, three conference rooms and on-site parking for over 100 vehicles. Let on a long lease of 999 years from 2018, the property generates £69,686.88 in rental income and is subject to annual upward only RPI-linked rent reviews.
A range of industrial and trade counter properties in Portsmouth are being offered in the latest auction catalogue. A freehold property currently trading as a builders’ merchants in Fratton that produces £114,000pa in rental income has a guide price of £1.6m-£1.65m. While six individual lots at Dundas Close are being offered, with guide prices ranging from £40,000 to £95,000+.
John Mehtab of Acuitus comments: “All of these properties sit within an established industrial location in the city of Portsmouth and have important 2025 rent reviews outstanding, allowing the new owners to maximise the income generation of these assets”.
The Ye Old Rose & Crown in Walthamstow, E17, is also being offered in the June auction. Benefitting from a new 25-year lease with five yearly CPI linked rent increases subject to 1% minimum and 4% maximum (compounded annually) and a guarantee from Stonegate Pub Company, the property generates £96,000 in annual rental income and has a guide price of £1.4m+.
Two Grade-II listed leisure properties, in Coventry and Cardiff also feature in the auction catalogue. The leasehold of the Old County House in central Coventry is being offered with a guide price of £2.5m. The property comprises of public house – trading as Blush & Barrel – and 17 self-contained student flats on the upper floors. Combined, the property generates £210,241 in annual rental income. While in Cardiff, a 39,469 sq ft property in the city centre which currently operates as a bar/nightclub is being offered with a guide price of £1m+. The whole property is let by way of a reversionary lease until June 2036, producing £232,862pa and subject to an imminent rent review.
Acuitus Chairman, Richard Auterac, comments: “High-net-worth investors continue to prioritise quality, recognising that assets priced in line with today’s financial environment can deliver secure income, stronger returns, and the potential for long-term capital growth. With substantial capital available for investment, buyers are well positioned to acquire these exceptional properties, and we are pleased to offer assets across a number of commercial property sectors.”
The Acuitus auction will take place on June 11th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
