Acuitus’ October auction was their largest to date and has put them on course for a second consecutive record-breaking year. The £70.61m worth of assets sold means that Acuitus have so far raised in excess of £310m over the course of 2016.   Chairman Richard Auterac commented: “The strong investment case made by commercial property was demonstrated once again at the October auction. Veterans of the saleroom were competing with investors who were making their first auction purchases.   It’s clear from our sales this year that there is a new generation of investors in the auction room and we are committed to providing them with a depth and detail of information which makes buying at auction as easy and transparent a process as possible.”  

Many buyers were attracted by the investment yields available, but there was also a high level of interest in development and active asset management opportunities. Of particular note was a 50,628 sq ft vacant office building in Norwich; with planning consent for conversion into 84 flats, it sold for £3.375m.   Retail and leisure investments also remain popular amongst buyers. The Edward Rayne public house in West Wimbledon sold for £1.42m at a yield of 5.1%, while a shop and restaurant property in Slough with a rental income of £50,000 sold for £980,000, a yield of 4.8%.  

“The size and scope of the October catalogue reflects the growing number of sellers who are bringing their assets to market to lock into the new levels of investor demand,” said Richard Auterac. “We would urge all potential sellers to look at whether they should be accessing the market through our final auction of the year.”   Acuitus’ final auction of the year will take place at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG on Thursday 8 December.