Acuitus has posted its best auction results of the year so far, with 86% of the lots on offer at its July auction being sold at a total of almost £34 million. Almost a third of those sales were for more than £1 million and the total for the year so far has now reached over £110 million.
The biggest sale on the day was a vacant office building near Heathrow Airport. With 12,263 sq ft of accommodation and the potential for redevelopment, it sold for £2.54 million (£207 p.s.f. capital value).
The opportunities available for sellers were reflected by the clear investor demand across all areas of the country and across diverse property sectors. Properties let to well known brands performed particularly well, with three trade counter units let to Travis Perkins and two B&M stores all achieving strong sales.
Other notable sales included: a bar/restaurant in York city centre let to Stonegate Pub Company Ltd at £152,553 per annum until 2030 sold for £2.50 million (Net Initial Yield 5.74%); a bingo hall in Wolverhampton earning almost £150,000 per annum until 2039 raised £2.115 million (6.66%); and a retail unit in Southall, London, let to Tote Bookmakers Ltd and with residential accommodation above fully let on Assured Shorthold Tenancies, sold for £1.5 million (5.74%).
Acuitus’ next auction will take place at The Montcalm Hotel, 2 Wallenberg Place, London W1H 7TN on Thursday 24 October. The deadline for entries is Friday 20 September.