Acuitus has enjoyed its biggest auction of the year, in the process achieving a success rate of 80% and selling £37.3 million of assets. The success of the auction has demonstrated that there is still demand for the right investments from investors with asset management expertise.
The biggest sale on the day was a Lloyds Bank in Clifton, Bristol – let until 2025 at a current rent of £100,500 per annum, it sold for £1.78 million at a yield of 5.3%.
Chairman Richard Auterac commented: “The investment market generally has become more complex to predict and pricing is sensitive. We are fortunate that we interact with a wide range of buyers and sellers across the UK on a daily basis and this allows us to give our clients the most up-to-the-moment advice.”
Other notable sales included: a KFC Drive-Thru in Wolverhampton, which sold for £1.61 million (5.3%); and an Iceland store in Buxton, Derbyshire – let until 2030 at a current rent of £127,685 per annum, with 5 yearly increases rising to a minimum of £144,463.85 in 2025, it sold for £1.7 million at a yield of 7.07%.
Acuitus’ next auction will take place at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG on Thursday 18 October. The deadline for entries is Friday 14 September.