A substantial freehold ground rent investment in London’s West End next to the BBC headquarters is among the lots in the Acuitus commercial property auction on May 6th.
The freehold site at Great Portland Street, Langham Street and All Soul’s Place is being offered for sale on behalf of an Oxford college with a guide price of £750,000. The ground rent interest currently generates £16,203 of annual income and benefits from reversions in 2077 and 2086. Ground rents are proving to be a popular asset class with three industrial opportunities in Aberdeen included in the catalogue with guide price ranges from £450,000 to £1.75m.
Charlie Powter of Acuitus comments: “This is an extremely rare opportunity to buy a ground rent interest in a prime core London location”.
Other London lots in the auction catalogue include a freehold retail and development opportunity at 96-98 Kilburn High Road which has a guide price of £1.25m. Featuring a double fronted shop – let to Holland and Barrett on a lease expiring in 2028 – and with vacant upper space which may be suitable for residential conversion, the property produces a total of £100,200pa in rental income with 1,369 sq ft of vacant upper floors.
In Kingston-upon-Thames, a freehold mixed retail and residential property situated on Market Place is being offered with a guide price of £825,000-£850,000 and produces annual rental income of £63,100.
Two prominent lots in Bournemouth are also being offered in the May auction. A rare freehold educational asset in Poole Road produces £272,928 in annual rental has a guide price of £2.95m-plus. Home to a language school which has been in occupation since 1989, it is currently let on a lease until 2030 with annual rental uplifts of 2.5%. Elsewhere in the south coast town, a substantial retail and gym investment is being offered with a guide price of £2.65m. The ground floor retail unit is let to B&M on a lease running until 2035 and currently produces £247,250 in total annual rental income.
The sale also features a number of development opportunities including vacant former NatWest banks in Sudbury, Wickford and Bakewell being offered with guide prices ranging from £250,000-£350,000. Other properties with development potential include an office building in Hastings, a warehouse/office development in Birmingham, a vacant former garden centre site in Faversham, and a mixed-use parade in Bristol.
Acuitus Chairman, Richard Auterac, comments: “Despite ongoing global volatility, we are seeing both national and international capital looking to be deployed into well-priced assets across the UK.”
“This catalogue offers buyers a number of high-quality assets across a wide range of sectors within the commercial property market.”
The Acuitus auction will take place on May 6th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
