14 of the 44 lots on offer at the Acuitus February auction are based in the capital, offering a wide range of opportunities across different sectors.
One of the auction’s leading properties is the former East London Central Synagogue at 40 Nelson Street, Whitechapel, E1, with a guide price of £2m+. One of the oldest synagogue’s in London’s East End, the freehold 5,081 sq ft building is being offered vacant and comes with additional vacant land on site making it of interest to both owner-occupiers and developers.
David Margolis of Acuitus comments: “This historic property was previously granted planning permission for development of the vacant land comprising four residential units – which, together with the existing building, is sure to attract significant interest”.
Continuing the London theme, in Camberwell, SE5, the freehold of the Hermits Cave Public House, situated at 28 Camberwell Church Street, is being offered with a guide price of £950,000-£1m. The property currently generates £75,000pa and benefits from a 25-year lease with a guarantee from Stonegate Pub Company and five-yearly RPI linked rent reviews.
Moving into the regions, a prime piece of Winchester’s High Street is also being offered. The freehold of this Grade-II listed property at 32 High Street has a guide price of £1.475m-£1.5m. The current occupier, Jeremy France Jewellers, who are currently paying £135,000pa, are well-established at the property having leased the premises for the past 13 years.
John Mehtab comments: “This property offers investors prime retail in one of England’s most affluent cathedral cities and we expect to see considerable interest in the auction room”.
There are several former freehold banks being offered in the February catalogue too, including five former NatWest banks situated in Stratford-upon-Avon, Bakewell, Paignton, Leek, and Honiton – with guide prices ranging from £80,000-£675,000.
Two attractive historic buildings also feature in the auction and are being offered on behalf of two separate local authorities, the City of Bradford Metropolitan District Council and Norwich City Council. In Bradford, a freehold city-centre Grade I mixed-use asset, let on a long dated lease and known as the Wool Exchange, is being offered with a guide price of £500,000 and produces £50,000pa in rental income; while in Norwich, a freehold Grade II office investment at 18 Colegate – situated within Norwich City Centre Conservation Area – has a guide price of £260,000-£280,000 and produces £30,000pa.
In St Ives, Cambridgeshire, a freehold parade is being offered at 20-22 Crown Street and 1-3 Bridge Street. Generating £137,500pa, the property has a guide price of £1.3m. The fully let retail parade contains tenants trading as Caffé Nero, TG Jones, and Card Zone, with an opportunity for active asset management.
Acuitus Chairman, Richard Auterac, comments: “Our first catalogue of the year provides an excellent opportunity for private investors and property companies across the UK to place their money in a resurgent commercial property market and begin to build their portfolios which they can then work over the medium term.”
The Acuitus auction will take place on February 12th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
