The second Acuitus auction of the year saw the sale of £53.32m of commercial property assets and demonstrated the growing use of the auction platform for asset disposal. The full results are available here.

Acuitus auctioneer, Richard Auterac, comments: “Sellers are responding to the certainty and reach of the auction process.

“In the space of less than six weeks at our last two sales, we have achieved for one client alone unconditional sales of more than 40 properties. They have realised that this is a more efficient route to market and, in several instances, have achieved better prices than were being sought through private sales.

“We have now sold more than £110m of assets in the first quarter of this year which is 67% more than in the corresponding 2015 period.”

Yesterday’s auction saw the sale of 67 properties in total at an average sale price of just under £800,000. The highest price was achieved by a freehold retail investment at 13-14 The Parade, Canterbury. Comprising two shops in a prime location it sold for £2.7m

Richard Auterac comments: “Our two sales in the first quarter of 2016 have demonstrated the distinct preferences of different investor groups –all of which are being satisfied by the range and quality of assets we’re offering.

“Whilst Brexit and other macro-economic influences may have brought some uncertainty into the market for large-scale commercial property assets, there is now tremendous momentum in the sub-£10m asset band which the auction room serves, and this is being increasingly driven by private investors.

“There are excellent opportunities for sellers to lock into this momentum.”