Six lots sold for more than £2m each as Acuitus raised £37.4m at its May auction.​

Acuitus Chairman, Richard Auterac, commented: "This auction vividly illustrated the opportunities for sellers who have properties that are in the £1m-£5m bracket and have the characteristics that our major investors and property companies are looking for.

“These buyers are not defined by sector or location and this is creating a hugely conducive environment for selling".

A prime retail unit occupied by GAP at 192 Western Road in Brighton sold for £2.81m and there was also sustained bidding for a restaurant investment in Reigate High Street which is occupied by Carluccio's and sold for £1.3m at a yield of 4.1%.

The two highest prices achieved in the sale were £3m for Units 11-15 at the Portland Walk shopping centre in Barrow-in-Furness, and the £2.9m paid for a retail unit in Lewisham High Street where the tenant, Iceland, was holding over. The yield was 4.7%.

Richard Auterac commented: "The only factor that is constraining our sector at the present is the supply of assets. If sellers can bring the right product into the auction room they will get very positive results”.