After three auctions in 2016, Acuitus are showing a significant increase in the amount raised at their auctions. Their latest auction, held in May, saw 69 properties sold at a combined total of £56 million.   The highlight was the sale of a marina complex at Brightlingsea in Essex, which sold for £6.6 million, more than £1 million above the guide price. The 7.44 acre property produces a current annual income of £483,430 pax and sold at a yield of 6.8%.  

That sale helped to bring the total for 2016 so far to £170 million, 50% more than than the same period in 2015, as well as making this the 6th Acuitus auction in a row to raise over £50 million.   Other highlights included the 119,00 sq ft Ace Business Park in Birmingham, which sold for £3.25 million at a yield of 7%, and an Odeon cinema in Canterbury, which raised £2.79 million at a yield of 6%.  

Chairman Richard Auterac commented: “There is little evidence that our buyers are being influenced by the EU Referendum. Indeed a close analysis of the individual sale results suggests a significant hardening of yields as buyers lock into a steadily improving secondary commercial property market against a background of low returns in the bond market, volatility in the equity market and attractive bank loans for property purchases.   “Today we saw sales that encompassed locations in England, Scotland and Wales. This broadening of demand is being driven in part by the continued flow of new investors into our commercial property market. Sellers can capitalize on this market momentum as we head towards the summer.”   Acuitus’ next auction will take place at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG on Thursday 7 July.