With a total of 82 lots on offer, this was Acuitus’s largest catalogue to date. They sold 66 properties at an average price of over £780,000, with 25% of these exceeding £1m.
The highest price achieved on the day was £3.75m for a mixed-use investment in London’s Highgate Village. The property, an office, residential and warehouse space with a children’’s nursery producing £54,000 pa, sold more than £1m above its guide at a yield of 1.36%. It attracted a lot of interest from bidders due to its long-term residential conversion potential.
Auctioneer Richard Auterac commented: “What this auction has shown is that investors will follow quality investments and those with proven asset management potential whatever their location”.
Their next auction, the last of 2014, will take place on December 11th at the Millennium Hotel, London W1.