Assets across London and the South East – including the freehold of an ultra-prime Mayfair property – feature in the catalogue for the Acuitus commercial property auction on March 26th.
On behalf of LPA receivers and in association with specialist London agency Compton, the imposing Grade II-listed 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.
Other London lots in the March auction catalogue include a mixed residential and retail freehold on Clapham High Street. It comprises two large flats providing 10 ensuite rooms all let on separate ASTs with a restaurant at street level. The investment currently generates £264,100pa and is offered with a guide price of £3.8m. In nearby Battersea, a freehold retail and residential property comprising a shop and three flats let on separate ASTs generates £118,600 in annual rent and is guided at £1.55m.
Charlie Powter of Acuitus comments: “The London market accounts for more than 40% of all assets selling at auction for more than £1m. These properties are high quality stock that offer investors either substantial income or, in the case of the Clarges Street property, a tremendous asset management opportunity”.
UK shopping centres have been the subject of more positive investor sentiment recently and the March auction features a number of freehold opportunities in the sector.
The Arcade in Bedford produces £418,090 in current rental income and comprises 44 retail and office units, the vast majority of which are let. The 31,938-sq ft covered arcade has a guide price of £2.5m. While in Cirencester, the 20-unit Bishops Walk Shopping Centre which produces current income of £425,361 is being offered with a guide of £2.95m.
John Mehtab of Acuitus comments: “Shopping centres such as these which serve local communities with a variety of convenience and independent stores are attractive to investors because of their existing income streams and future potential”.
The catalogue also includes a number of leisure assets. The freehold of the Côte Brasserie on Esher High Street in Surrey generates £105,000 in annual rental income and has a guide price of £1.275m. In the centre of Chelmsford, the freehold of the Breakfast Club (trading as Club Café) – which is let on a long lease until 2036 with no breaks at a current rent of £70,000 – is guided at £895,000.
Vacant banks have proved particularly popular at recent Acuitus auctions and this sale features more in locations such as Sheffield, Redditch, Newmarket, Bakewell, Mold and Wellingborough. Guide prices range from £150,000-£475,000.
Acuitus Chairman, Richard Auterac, comments: “Investors today want to move fast, and Acuitus gives them immediate access to a pipeline of attractive opportunities where capital can be deployed quickly and with confidence.
“This auction brings together well‑priced assets that offer sustainable income for high‑net‑worth investors who value strong, reliable cashflow. It also provides rich active‑management potential for property companies looking to add value and grow returns across their portfolios.”
The Acuitus auction will take place on March 26th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
