London Sports Direct store features at Acuitus auction

The freehold of a substantial Sports Direct store in Tottenham, London is among the lots being offered at the Acuitus commercial property auction on Thursday July 16^th.

Located close to the Tottenham Hotspur stadium, the 10,489 sq ft double-fronted store at 638 High Road is let to Frasers Group Trading Ltd at an annual current rent of £175,000 and has a guide price of £1.8m.

It is one of several London properties in the auction which also includes two rare freehold properties on Little Turnstile Street in Holborn. The property at 7-8 Little Turnstile is a mixed-use retail and office investment that produces £58,500 in annual rental income. The adjacent property at 9 Little Turnstile combines residential and retail use and generates a rental income of £63,020pa. They are being offered with guide prices of £900,000-£950,000 and £750,000+ respectively.

Jon Skerry of Acuitus comments: “Opportunities to buy freeholds of this lot size in the heart of London are rare. These properties offer both a positive level of current income and future asset management potential”.

Elsewhere in the catalogue, two substantial freehold office investments being sold on behalf of a major investment fund also feature. The first, 1-6 Silver Court in Welwyn Garden City comprises three office buildings with onsite parking for 200 vehicles. It is offered with a guide price of £1.75m and currently produces £324,057 in annual rental income. Tenants including Quantum Care, Sidel UK and Cardtronics UK and there is also 10,363 sq ft to be let.

The second office opportunity is located north of Uxbridge at Salamander Quay in Harefield. Comprising a 15,079 sq ft modern office building overlooking the Grand Union Canal, the property generates £261,505 in annual rental income and is being offered with a guide price of £1.5m.

Charlie Powter of Acuitus comments: “The office sector has been the subject of more positive sentiment recently and these two investments are located on substantial sites with long-term management potential”. 

Other lots in the July sale include:

• A freehold industrial investment/redevelopment/owner occupation opportunity in Wednesbury, comprising a substantial former car dealership and workshop facility arranged within three detached buildings together with extensive forecourt parking and yard area. It is being offered with a guide price of £1.7m.
• A prominent restaurant at 58-59 Westover Road in Bournemouth which is let to Prezzo is offered with a guide price of £850,000. The property which produces £75,000pa in rental income comprises an upper ground floor restaurant that benefits from an outdoor seating area and sea views.
• In Salisbury, a restaurant investment let to Pizza Express on a lease expiring 2034 with no breaks is offered with a guide price of £675,000-£700,000. It currently produces £56,950 of annual income.
• A selection of ground rent interests at Clayton Business Park in Accrington are being offered with guide prices ranging from £35,000-£150,000.
• Former NatWest banks in Dorchester, Melton Mowbray and Trowbridge are available with vacant possession. The property in Dorchester town centre is an attractive Grade II-listed building and has a guide price of £750,000. The guide prices for the Melton Mowbray and Trowbridge properties are £150,000 and £225,000 respectively.

Acuitus Chairman, Richard Auterac, comments: “This catalogue offers both quality and diversity covering a wide range of sectors of commercial property in locations across the country.

“With the finance markets now settling and economic sentiment slowly improving, this is an opportune time for investors to build or reorientate their portfolios and lock into strategic assets.”

The Acuitus auction will take place on Thursday July 16th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.