Catalogue launched for first 2020 auction

27th January 2020

Two properties that are both close to regional airports are among the 51 lots that Acuitus will be selling at its first auction of the year on February 12th.

Hi Tec Europe occupy Units 1& 2 on Aviation Way next to Southend Airport. The 90,000 sq ft freehold industrial and office headquarters asset has one vacant unit and produces current annual rent of £385,000. It is let on recently renewed leases, and is being offered with a guide price of £5.5m-£5.75m.

The Milestone Services petrol filling station and convenience store are located next to Exeter Airport. The property occupies a prominent site and is entirely let to Bestway Retail until 2035 with no breaks. It currently produces annual income of £75,804 with fixed rental uplifts. The guide price for the lot is £1.1m.

Other lots in the sale include a fast-food drive-thru on The Hough Retail Park in Stafford which is let on assignment to KFC until 2028 at a current rent £71,500, and Units 1,2,3 & 4 on The Loom retail park in Leigh, Greater Manchester. Let to occupiers including Nandos and Anytime Fitness Gym, the asset produces annual income of £123,300 and has a guide price of £1.4m.

The February catalogue encompasses a wide range of retail, office, industrial, leisure, care home and development assets that produce current total rental income of around £2.65m. Lots in the sale have been entered on behalf clients including LaSalle Investment Management, Wesleyan Assurance, Mapeley and Telereal Trillium.

Acuitus Chairman and Auctioneer, Richard Auterac, comments: “The first auction of a new year is always keenly followed by the market generally as a real life measure of market sentiment and as an opportunity for investors to begin to satisfy their acquisition targets for the year.

“There is more positivity in the wake of the General Election and sentiment is definitely on an upwards trend after two – three years of decline.”

The auction will take place on 12th February at The Montcalm Hotel, 2 Wallenberg Place, London W1H 7TN.