Acuitus’ first auction of 2017
took place on Thursday 16 February and raised £35 million, with an average sale
price of £970,000 and a third of the lots sold going for £1 million or more.
Chairman Richard Auterac
commented: “If there was any doubt about the interest for investing in good
quality commercial real estate, this was dispelled by the number of high net
worth investors in what was a very full room. There was no shortage of funds to
invest, with the lots in the £1 million to £5 million range proving the most
popular. Lively bidding meant several of the lots were bought at strong prices.”
The biggest sale on the day was a supermarket in
Wimborne, Dorset; let to the Co-op until 2034, it sold for £4.8 million at a
net initial yield of 5.8%. Another big sale was a parade of five shops and
seven residential units in Winchester, which raised £2.07 million (5.8%).
However, some of the keenest interest on the day was saved for
properties based in London and/or producing long-term income. A property in
Ilford and rented to The Co-operative Bank until 2062 was sold for £2.92
million (4.7%), while three retail units on Lee High Road in Lewisham, with a
dental practice above, realised £985,000 at a yield of 4.4%.
Richard Auterac is already looking forward to the
next Acuitus auction: “The outlook is positive for our second sale of the year
on March 30th and it is evident that owners have been encouraged to submit lots
by the mounting evidence that the property market thrives, despite the external
uncertainties. Real estate remains one of the best stores of value and buying
and selling in the auction room is an excellent and immediate opportunity to
execute investment requirements.”
Acuitus’ second auction of 2017
will take place at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H
7BG on Thursday 30 March.