Acuitus’ latest auction, which
took place on Thursday 19 October, had an impressive success rate of 86%, in
the process raising a total of £68 million. Of the lots sold, 23 went for over
a million, contributing to an average selling price of £870,000.
The biggest sale on the day was a substantial retail and
residential parade in Cambridge earning rents of £181,443 per annum, which sold
for £3.3 million at a net initial yield of 5.11%.
Other notable sales included a Grade II listed
building in Bury St Edmunds, let to WH Smith Retail Holdings Ltd until 2032,
which sold for £2.995 million (5.04%) and a pair of retail units in Newmarket, fully
let until 2022, which raised £1.79 million (7.76%).
The main theme for the auction was investors
concentrating on the potential for asset management and income return across
the whole spectrum of the commercial property market. Chairman Richard Auterac commented: “There is a tremendous level
of investor demand in the market at present and our December auction is the
final opportunity of the year for buyers to lock into that.”
Acuitus’ final auction for 2017 will take place
at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG on Thursday