Acuitus auctions have now raised more than £310m in 2016 which has put us on course for a second consecutive record-breaking year.

Acuitus auctioneer, Richard Auterac, commented: “The strong investment case made by commercial property was demonstrated once again at the October auction. Veterans of the saleroom were competing with investors who were making their first auction purchases”.

Although many buyers are being attracted by the investment yields on offer, there is also strong demand for development and active asset management opportunities. Grosvenor House in Norwich – a 50,628 sq f ft vacant office building with planning consent for conversion into 84 flats - sold for £3.375m.

Prime retail and leisure investments remain very popular with investors. A 2,940 sq ft shop and restaurant property on Slough High Street which currently produces income of £50,000 sold for £980,000 at a yield of 4.8% while the Edward Rayne public house in West Wimbledon sold for £1.42m at a yield of 5.1%.
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Richard Auterac comments: “It’s clear from our sales this year that there is a new generation of investors in the auction room and we are committed to providing them with a depth and detail of information which makes buying at auction as easy and transparent a process as possible.

“The size and scope of the October catalogue reflects the growing number of sellers who are bringing their assets to market to lock into the new levels of investor demand. We would urge all potential sellers to look at whether they should be accessing the market through our final auction of the year.”

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