An unbroken freehold retail and residential parade in Woodley, Reading with a guide price of £3.5m leads the 50-lot catalogue for the Acuitus commercial property auction on July 10th.
The fully-let Woodley parade property comprises five shops including a triple-fronted grocery store, plus seven separately-let maisonettes on the upper parts. The investment produces £378,300 of annual rental income.
Other retail parades in the auction include:
David Margolis of Acuitus comments: “Retail parades are extremely popular with our pool of investors whether they are looking for strong and varied income streams, active asset management opportunities, or those with development potential”.
London lots account for 40% of the latest auction catalogue; including three pubs in Hornsey, Kentish Town and Crouch End which are being offered with respective guide prices of £2.1m, £1.5m, and £900,000. Elsewhere in the capital, six separate retail properties on Beckenham High Street with guide prices ranging from £300,000-£475,000 are being offered.
Four former NatWest banks are also being offered in Catford, Staines-upon-Thames, Bishop Auckland and Goole, East Yorkshire with guide prices of £100,000 to £900,000.
Jon Skerry comments: “These assets will certainly be of interest to owner-occupiers and investors looking for immediate asset management opportunities”.
Acuitus Chairman, Richard Auterac, comments: “This catalogue reflects a more energised market with a growing number of sellers responding to the increased level of active buying power.
“As the UK commercial property market heads into the second half of the year, there is undoubtedly more cause for optimism than we saw a year ago with a clearer direction in interest rates, occupier and consumer demand and the potential for rental growth from a generational re-basing of rents in the retail and office sectors.”
The Acuitus auction will take place on July 10th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
