Acuitus raised £38.27m at their second auction of the year, with their highest sale rate to date as they sold 93% of the 54 lots offered in the catalogue.

A quarter of the lots achieved more than £1m, and the average price for the lots that sold was £814,000.

Auctioneer Richard Auterac commented: "This result is a reflection of the depth and breadth of investor interest that we now have in the auction room. The successful bidders ranged from seasoned veterans to those who were making their first purchase at auction.

"The exceptional sale rate showed the benefits of having a quality catalogue which provide assets that are available at 'entry level' prices if around £120,000 right through to just under £4m."

The highest selling property of the day was Lot 21, 1-28 North End Parade in London W14. The long leasehold retail parade of 15,647 sq ft, producing a current income of £243,600 pax, went under the hammer for £3.81m at a net initial yield of 6.04%.

Their next auction will take place on May 21st at the Radisson Blu Portman Hotel, London W1.