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