Acuitus March Auction Success

The Acuitus March auction saw the sale of 74 lots for a total of £47.36m. The success rate was 86% and 16 lots sold for more than £1m. ​

Acuitus Chairman, Richard Auterac, comments “Investors are making it plain what they demand, so the ball is really now in the sellers’ court. If they supply the right assets, these will sell at good prices.''

The auction showed the broad-based investor demand which is targeting property of all sector types. Competitive bidding consistently saw lots sell well above their reserves and the sale attracted national and international investors.

In London, a highly reversionary long let office investment at 13 Grosvenor Gardens and 13 Grosvenor Mews, Belgravia sold for £1.505m at yield of 1.98%. The 7,973 sq ft Grade II listed property is located close to Buckingham Palace, is let to Polyglobe until December 2050 without breaks and produces a current annual income of £23,064.

Industrial properties were notably strong in the sale. The 8,196 sq ft Units 2 & 3 at Baird Close in Crawley sold for £1.11m at a yield of 5.9% while a 18,961 sq ft freehold warehouse investment on the Coldharbour Lane Industrial Estate in Harpenden sold for £1.79m at a yield of 6.34%.

Richard Auterac commented: “There was tremendous positivity in the room and that is reflected in the prices paid and the overall success rate. We are anticipating similar levels of investor interest at our next auction in May.”