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