Development opportunity features at Acuitus March auction

4th March 2020

A London development opportunity close to the UK head office of fast food giant, McDonald’s, is among the 47-lots at the Acuitus auction on March 26th.

The 0.33-acre site is opposite East Finchley underground station has planning consent for 25 flats with no affordable housing requirement, and is being offered with a guide price of £4.75m. The permission also encompasses B1 office use on the ground and lower ground floors.

Acuitus auctioneer, Richard Auterac, comments: “For much of last year, there was muted appetite for London residential development opportunities but there has been a substantial change of sentiment since the General Election and we expect there to be strong interest in this lot”.

Properties offered in the sale represent total rental income of around £3m and encompass a wide range of retail, office, industrial, leisure, care home and development assets. Guide prices range from £50,000 to £4.75m.

Other lots in the sale include:

  • Iceland Foods, Nottingham Road, Alfreton:  modern supermarket investment established business park and let to Iceland Foods until 2030 (no breaks) at a current rent of £118,920pax rising to £134,547pax in 2025. Guide price: £1.75m
  • Unit 1, Walton Road Industrial Estate, Portsmouth: freehold warehouse investment let to Menzies Distribution until 2029 (subject to option). Producing £133,432pax. Guide price: £1.9m-£2m
  • 125 High Street, Guildford: prime freehold retail investment let to Estee Lauder Cosmetics until 2027 (subject to option). Producing £105,000pax. Guide price: £1.65m-£1.7m
  • Teignmouth Gardens, Western Road (A40), Greenford, London: freehold ground floor former bank with six residential flats above. Situated on Western Avenue A40 adjacent to the Hoover Building. Vacant with development potential. Guide price: £1.4m

The auction will take place on March 26th at 2pm. Further details here