After three auctions in 2016,
Acuitus are showing a significant increase in the amount raised at their auctions.
Their latest auction, held in May, saw 69 properties sold at a combined total
of £56 million.
The highlight was the sale of a
marina complex at Brightlingsea in Essex, which sold for £6.6 million, more
than £1 million above the guide price. The 7.44 acre property produces a
current annual income of £483,430 pax and sold at a yield of 6.8%.
That sale helped to
bring the total for 2016 so far to £170 million, 50% more than than the same
period in 2015, as well as making this the 6th Acuitus auction in a row to
raise over £50 million.
Other highlights included the
119,00 sq ft Ace Business Park in Birmingham, which sold for £3.25 million at a
yield of 7%, and an Odeon cinema in Canterbury, which raised £2.79 million at a
yield of 6%.
Auterac commented: “There is little evidence that our buyers are being
influenced by the EU Referendum. Indeed a close analysis of the individual sale
results suggests a significant hardening of yields as buyers lock into a
steadily improving secondary commercial property market against a background of
low returns in the bond market, volatility in the equity market and attractive
bank loans for property purchases.
“Today we saw sales that encompassed locations in England,
Scotland and Wales. This broadening of demand is being driven in part by the
continued flow of new investors into our commercial property market. Sellers
can capitalize on this market momentum as we head towards the summer.”
Acuitus’ next auction will take place at the Radisson
Blu Portman Hotel, 22 Portman Square, London W1H 7BG on Thursday 7 July.