Acuitus’ latest auction, which took place on Thursday 25 May, has shown that the opportunities are there for sellers with the right properties. The auction raised £37.4 million across 68 lots on offer, with a success rate of 71%. Six of the lots sold went for over £2 million.

Chairman Richard Auterac commented: “The auction vividly illustrated the opportunities for sellers who have properties that are in the £1 million to £5 million bracket and have the characteristics that our major investors and property companies are looking for. These buyers are not defined by sector or location and this is creating a hugely conducive environment for selling.”  

The biggest sales on the day were £3 million for five units in the Portland Walk Shopping Centre in Barrow-in-Furness with a combined annual rent of £495,355, and a retail unit in Lewisham let to Iceland which was sold for £2.9 million at a yield of 4.7%.  

Other strong retail sales were achieved on a unit in Brighton let to GAP, which was sold for £2.81 million, and a Carluccio’s restaurant in Reigate High Street which, after sustained bidding, was sold for £1.3 million at a yield of 4.7%.  

Richard Auterac commented: “The only factor that is constraining our sector at the present is the supply of assets. If sellers can bring the right product into the auction room, they will get very positive results.”  

Acuitus’ next auction will take place at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG on Thursday 13 July.