ACUITUS AUCTION £67.6M SALES RESULTS

ACUITUS AUCTION £67.6M SALES RESULTS

The October Acuitus auction saw the sale of £67.6m of assets at a success rate of 89% and illustrated the opportunity for sellers to capitalise on the high level of current investor demand.

Following the sale, Acuitus Chairman, Richard Auterac, commented: “Auctions have been characterised as a high yielding investment environment but the sharpening yields now being achieved in the sale room are notable.

“Investors who are confronted by the minimal - and sometimes volatile - returns currently available in the equities and gilts markets are being attracted by the comparatively high returns that property offers but which for many high net-worth investors are simply not accessible through traditional property agency channels.

“The attraction of commercial property investment will continue for some time. It will create a very favourable market for sellers and strong competition in the room from a broadening base of investors using our highly experienced and professional multi-channel market place.”

The auction saw a total of 27 of the 75 lots sold achieve prices of more than £1m, and featured what is believed to be the highest price achieved in the UK by a commercial property lot selling to an internet bidder. A 13,750-sq ft Countrywide Farmers store in Newport let until 2022 at a current rent of £156,400pax sold after strong competition to an online bidder for £1.725m.

Richard Auterac commented: “This was a landmark for us and the sector. Investors can watch our auctions live online and also bid securely in a secure and professional environment. We think that an increasing number – and especially those from overseas – will start using this method.

“Having sold more than £6bn of assets during my career in the auction room this is admittedly a small additional step today but potentially a giant leap forward in opening up private equity to direct investment in commercial property.

Moving Home

UK Auction List works with our partner, Really Moving to provide everything you need for a stress-free move.

Conveyancing

Chartered surveyors

Removals