Acuitus raised £25.05m from its February auction which was characterised by a broad range of international and domestic buyers investing in an equally broad range of assets. Greek, South African and Russian investors were among the successful bidders present in the room.
The sale posted Acuitus’s highest “in the room” success rate – 69% – since its launch in May of last year . At £1.3m, the average sale price in the auction maintained Acuitus’s reputation for consistently achieving average lot sale prices above £1m.
The lots sold represented 74% of the catalogue by value of total guide prices.
Acuitus auctioneer Richard Auterac commented: “Today’s sale demonstrated the depth and variety of investor interest in the commercial property sector.
“The range of the assets which attracted buyers, the prices commanded and the yields reflected shows that there are always buyers for assets which are brought to the market with a depth of detail and correctly priced.
In what will remain a challenging commercial property market, we were delighted to see Acuitus’s auction approach being once again endorsed by such a busy room featuring a large number of successful international and UK bidders.
“Our sales attract a huge range of investors and are providing a further indication of the way forward for the property sector and pricing levels.
“With purchase prices ranging from £330,000 to over £3m, a yield spread from as low as 3% through to 14% and lots sold including medical, nursery and licensed properties together with
a residential development site, this was a sale that clearly demonstrated the breadth of appetite that investors have.”
By value, no one property type represented more than 23% of the lots sold and the geographic spread of properties offered included Ipswich, Glasgow, Milton Keynes, Cardiff, Hove, Mansfield, Redhill and Wakefield as well as a number of properties in central London.
Notable sales included:
The next two Acuitus auctions will be on April 7 and May 26 at the Millennium Hotel, Grosvenor Square, London W1.