Acuitus has posted its best auction result of the year so far, with 80% of the lots on offer at its May auction being sold.
The biggest sale on the day was a retail and residential ground rent investment in London SW11 – let to Whole Food Market until 2030 for almost £230,000 per annum, rising to nearly £250,000 per annum in 2025, it sold for £3.4 million at a yield of 6.33%.
Chairman Richard Auterac commented: “There is a tremendous selling opportunity at present. Demand is strong for quality investments and new investors continue to enter the market. We have already sold close to 100 investments in 2019 across England, Wales and Scotland comprising all major investment property sectors.
“Notwithstanding the political deadlock surrounding the UK’s exit from the EU, it is clear there is strong demand from a wide range of investors for good quality assets.”
Other notable sales included: a Travelodge Hotel in Dundee let until 2037 with RPI uplifts raised £1.88 million (5.65%); two semi-detached industrial units in Corby that have been combined to form one unit and let to Ball & Young Ltd until 2028 at over £240,000 per annum were sold for £2.85 million (7.93%); and a ground floor shop in Henley-on-Thames with two floors of ancillary accommodation above that has been let to Fat Face Ltd at £50,000 per annum until 2020 sold for £820,000 (5.78%).
Acuitus’ next auction will take place at The Montcalm Hotel, 2 Wallenberg Place, London W1H 7TN on Thursday 11 July. The deadline for entries is Wednesday 12 June.