Supermarket investments to feature at Acuitus May auction

5th May 2020

Supermarket and convenience store investments let to Tesco, Waitrose, Sainsbury’s and Co-operative are among the 36-lots that Acuitus will be selling at its live streamed auction on May 21st.

In Amersham, a freehold foodstore investment let to Waitrose produces current annual income of £194,868 and is being sold with a guide price of £2.2m. It is let until 2025 and there is a tenant option to renew the lease from September 2020 for 10 years at a commencing rent of £225,905 per annum rising to £261,886 per annum in September 2025.

An 8,436 sq ft investment on Busby Road, Glasgow which is primarily occupied by a Tesco Express is being sold with a guide price of £1.55-£1.65m. The remainder of the property is occupied by the Chest Heart and Stroke Scotland charity. The investment produces current annual income of £115,000.  The Tesco store is let on a recently extended lease until 2036 (subject to option) with RPI Rent Reviews in 2026 and 2021.

Also in Scotland, a Co-operative foodstore in Fraserburgh, Aberdeen is being offered with a guide price of £950,000-£1.05m and produces current annual income of £101,305.

The auction will also feature a freehold retail parade in Portland Road, Hove which is let to Sainsbury’s Supermarkets and Costa with 12 flats let on long leases above. It current produces annual income of £180,773 and is being offered with a guide price of £2.5m-£2.75m

Acuitus Chairman and Auctioneer, Richard Auterac, comments: “Supermarket and convenience retail investments have continued to be in demand during the pandemic as their sector is underpinned by a fundamental need.

“We expect there to be considerable investor interest in these lots.”

Properties to be offered in the May auction encompass a wide range retail, office, industrial, leisure, assisted living and development assets. Guide prices range from £180,000 to £4.75m.

Other lots in the sale include:

  • Travelodge Hotel, Crewe, Cheshire: Virtual freehold hotel investment let to Travelodge Hotels Ltd until 2030. 56 bedrooms with 92 car parking spaces.  Producing £194,044pax with CPI uplifts. Guide price: £2.5m
  • Brooklands Park, Dinnington, Sheffield: Freehold Industrial Investment let to Ixion Ltd on five-year lease on a well-established industrial estate.  Producing £57,500pax with fixed uplift in 2023. Guide price: £700,000
  • 12-18 High Road, East Finchley, London: Freehold Development Site with Planning Consent for 21 flats and offices.  Well located opposite East Finchley Underground Station and close to The Bishops Avenue. Guide price: £4.75m

The auction will take place on May 21st at 2pm and will be broadcast via livestream on the Acuitus website and is open to remote bidding by telephone, internet and proxy. Further details here