Launch of new real estate auctioneering and investment company

6th April 2010

Richard Auterac, Peter Cunliffe and Charlie Powter have launched Acuitus, a West-End based company focussed on real estate auctioneering and investment throughout the UK.

The three founding directors, who for many years previously ran the auction department within global property consultancy Jones Lang LaSalle, recognised that buyers and sellers are now looking for specialist providers in this marketplace.

Jones Lang LaSalle is fully supportive of the new venture and has uniquely transferred the auction business to the founders in order to ensure Jones Lang LaSalle clients continue to have the auction route to market and the right disposal advice for property and portfolio sales.

Acuitus will hold its first auction on 27 May at the Millennium Hotel in London’s Grosvenor Square. The team, which comprises the three founding directors together with three of its former team, is currently taking sale instructions from major property owners including Barclays Bank Plc amongst others. Future auctions are planned later in the year for July, October and December.

Richard Auterac, chairman and auctioneer said ‘our clients have asked for a personal and specialist independent auctioneering and investment service which can provide innovative and adaptable solutions.

“At a time when clients need a robust and efficient marketplace, we have responded by setting up Acuitus. We see this as being very timely for receivers, administrators and banks as the economic cycle turns full circle. In addition there is much speculation around government-owned properties and the need to realise capital for repayment of the national debt. With total visibility the auction route offers a transparent and publicly accountable method of sale which the Government cannot ignore.”

“Auction is a specialist service and I am delighted that we will continue to provide advice on this type of disposal to all the clients of Jones Lang LaSalle so that we ensure there is continuity in the service.”

“As an auction team we have the experience and a successful track record of selling the better quality, larger lot sizes at auction for major property owners in the UK. Our clients will benefit from the dedication, energy and depth of knowledge provided by our six-strong team and, in particular, we look forward to further strengthening our relationships with investment agents and advisors who will benefit from this independent approach.”

For further information please contact:

Richard Auterac Acuitus DDI: +44 (0)20 7034 4851 M: +44 (0)7836 742833