The first Acuitus commercial property auction of the year saw £35m of assets sold, with the keenest interest being shown in properties producing long-term income or those located in London.

Acuitus auctioneer, Richard Auterac, commented: "The outlook is positive for our second sale of the year on March 30th and it is evident that owners have been encouraged to submit lots by the mounting evidence that the property market thrives, despite the external uncertainties. Real estate remains one of the best stores of value and buying and selling in the auction room is an excellent and immediate opportunity to execute investment requirements."

At the February auction the average lot sale price was around £970,000 with nearly a third of properties selling for more than £1m.

The highest price in the room was achieved on a 21,448 sq ft supermarket in Wimborne, Dorset, let to the Co-op until 2034. It sold for £4.8m which reflected a net initial yield of 5.8%.

Richard Auterac added: "If there was any doubt about the interest for investing in good quality commercial real estate this was dispelled by the number of high net worth investors in what was a very full room. There was no shortage of funds to invest, with the lots in the £1m - £5m range proving the most popular. Lively bidding meant several of the lots were bought at strong prices".

Richard Auterac said: "I was impressed by the atmosphere in the room and it is clearly evident that buyers have a serious wish to invest. It seems to us that the great majority of high net worth investors do not have access to these types of good quality investments except through our auctions. There were some big hitters there along with large scale residential investors making their first commercial purchases."

The interest generated at the February auction by London locations was evident early on in the sale with the second lot of the day, a restaurant at 244 Kentish Town Road, London, NW5, selling for £985,000 at a yield of 3.8%.

Properties with development or improvement potential remain popular and another London lot, 8-12 Lee High Road, Lewisham, comprising three retail units with a dental surgery above, and with scope for residential conversion, sold for £2.2m at a yield of 4.4%.

The sale of 101-105 High Road, Ilford, Greater London demonstrated the interest in long-term income. The 5,287 sq ft property, which is let to The Co-operative Bank until 2062 realised £2.92m - a yield of 4.7%.

The De Lunn Buildings in Jewry Street, Winchester, a very attractive parade of five shops and seven residential units, sold for £2.07m at a yield of 5.8%.

A freehold retail and tyre depot at 1, 2 & 3 Eastern Avenue, Gloucester, fetched £1.86m, showing a yield of 6.6%. A retail parade at Upper Market Square, Hanley, Stoke-on-Trent, sold for £1.515m.

Despite February's successful sales, Richard Auterac commented: “Pricing is not a one way ticket. While there is demand for all types of investment, sellers’ expectations need to be tempered for investments where the future income is more uncertain and this needs to be reflected in the pricing of these types of assets”. ​