Acuitus’ second auction of 2017 took place on Thursday 30 March and raised £47.36 million across 74 lots, with a success rate of 86% and 16 lots sold going for £1 million or more.  Broad-based investor demand and consistently competitive bidding meant that many of the lots on offer were sold for well above their reserves.  

Chairman Richard Auterac commented: “Investors are making it plain what they demand, so the ball is really now in the sellers’ court. If they supply the right assets, these will sell at good prices.”  

The biggest sale on the day was a restaurant in Guildford. Let until 2036, with no breaks and at a rent of £130,000 per annum, it was sold for £2.45 million. Meanwhile, a highly reversionary 7,973 sq ft Grade II listed office investment in Belgravia, close to Buckingham Palace and let until 2050 at a current rent of £23,064, raised £1.505 million at a yield of 1.98%.  

One notable feature of the auction was the strong showing of industrial units. These included an 18,961 sq ft freehold warehouse in Harpenden which was sold for £1.79 million (6.34%) and two units totalling 8,196 sq ft in Crawley which raised £1.11 million (5.9%).

Richard Auterac is confident that Acuitus’ strong start to 2017 is set to continue: “There was tremendous positivity in the room and that is reflected in the prices paid and the overall success rate. We are anticipating similar levels of investor interest at our next auction in May.”  

Acuitus’ next auction will take place at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG on Thursday 25 May.