London lots feature at October auction

9th October 2020

An investment in the heart of London’s Soho with refurbishment potential is being offered with a guide price of £4.5m-£5m at our live-streamed auction on October 28th.

The 7,000 sq ft property at 14-15 D’Arblay Street comprises a cinema preview theatre with four floors of offices above – two of which are currently vacant. It produces current annual income of £174,450, and offers potential asset management opportunities including an imminent lease renewal, refurbishment or change of use.

The auction also features 21 Lamb Street, Spitalfields, E1. Occupied by the Spitalfields Day Nursery and Pre-School, the investment produces £61,352 of annual rent and is let until 2028. It is being sold with a guide price of £900,000-£1m.

Acuitus Chairman, Richard Auterac, comments: “As our September sale showed, there is diverse buyer demand in the market and sellers are beginning to capitalise on this by bringing assets to auction.

“The digital transformation that has occurred over the past six months has enabled Acuitus to reach investors new to the market and help create the competitive focus necessary to achieve successful sales.”

High quality retail investments feature prominently in the October sale. A 2,100 sq ft unit at 35 High Street in Wimbledon Village is less than a mile from the All England Tennis Club and is being offered with a guide price of £1.4m. Let to estate agents, Robert Holmes & Co, until 2030, the investment produces current annual rent of £72,500.

Richard Auterac comments: “Given the recent introduction of Use Class E, experienced investors are seeing a new dimension to retail, industrial and office properties, and are attracted by the combination of current income and the longer term potential to reorientate the asset.

“In this context, the micro-location and economic setting of an asset are playing a bigger part in determining price rather than the current use or occupier.”

The October 28th auction will start at 2pm and will be broadcast via livestream on this website. Bids can be submitted online, by telephone or by proxy.