Acuitus have raised £25.3m at their first auction of 2015, which marked a 40% increase on the February sale last year.

The catalogue comprised 48 lots in total consisting of a wide range of commercial properties throughout the UK, with 10 of the 34 sold achieving prices above £1m.

Auctioneer Richard Auterac commented: "We have seen for some time the commercial property auction room populated with investors seeking secure, long-term investments but that group of buyers is now being joined by a growing number who are taking a more confident, entrepreneurial approach and looking for value-creation opportunities".

The highest selling lot of the day was Lot 21, Cobalt Square in Birmingham. The long leasehold office tower of 71,923 sq ft, producing a total of £248,836 per annum, went for £1.85m.

Their next auction will take place on Thursday March 26th at the Radisson Blu Portman Hotel, London W1.