Acuitus has launched the catalogue for what will be its biggest auction to date.
The catalogue for the auction which will take place on October 23rd can be viewed here and comprises 82 lots producing approximately £6m of rental income.
The sale encompasses retail, office, industrial and leisure assets across the UK and includes a portfolio of 17 freehold bank properties with 12 let to Lloyds and five let to TSB. Together these properties produce rental income of £246,250pax.
Guide prices for the lots in the auction range from £110,000 to £2.3m. The sellers include F&C Reit, Helix Property Advisers and the Royal College of Surgeons of England together with major banks, investment funds, trustees, Administrators at Zolfo Cooper and LPA Receivers and Joint Fixed Charge Receivers at JLL, Knight Frank, Savills, DTZ, GVA, BNP Paribas Real Estate, CBRE and Edward Symonds.
Properties in the auction include:
- Portfolio of freehold bank investments let to Lloyds Bank plc/ TSB Bank plc: A portfolio of 17 properties located throughout South-east and Midlands let to either Lloyds or TSB banks on leases expiring in 2021 subject to option. Total income from all the assets: £246,250pax. Guide prices: £125,000 – £250,000
- Leeds, Antler Complex, Bruntcliffe Way, Morley: freehold office park comprising 9 detached & semi-detached units let to tenants including Ricoh UK, Amey plc and Warranties Direct. Currently producing income of £274,840pax. Guide price: £1.3m
- Woking, Cleary Court, 169 Church Street East: 5 ground floor shops with 8 office suites on three upper floors. 1,523 sq.m (16,390 sq.ft) Approx. Multi-let. Currently producing £223.451 p.a.x. Guide price £1.9m
- London, 12/12A South Grove & 108/108A Swains Lane, Highgate Village: Prominent location opposite Pond Square. 486 sq.m ( 5,242 sq.ft.) Approx comprising vacant residential & office with additional warehouse and children’s nursery. Currently producing £54,000 pax. Guide Price £2.3m+
- York, Clifton Moor Retail Park: Freehold health club 2,087 sq.m (22,465 sq.ft ) let to Pure Gym Ltd until 2028. Currently producing £162,500 pax. Guide price £1.7m+
- Norwich, Charles & Wensum House, 89-109 Prince of Wales Road: Substantial office & retail building. 3,141 sq.m (33,816 sq.ft.). Close to railway station. Part let to Norfolk County Council. Currently producing £292,675 pax. Guide Price £1.5m
- Tunbridge Wells, 99-101 Mount Pleasant Road: Well located freehold restaurant. Lease guaranteed by Tasty plc t/a Cau until 2036. Currently producing £130,000 pax. Guide Price £1.65m
- Nottingham, 31 Long Row: Freehold city centre retail investment let to Schuh and currently producing income of £167,500pax. Guide price: £1.55m
- Ingatestone, 46-54 High Street: Freehold supermarket let to Budgen Stores Limited with two floors of offices above let to Accountants. Currently producing £135,500 pax. Guide Price £1.7m
For the 17 Lloyds Bank/TSB investments being offered on the instructions of Zolfo Cooper, we are able to provide independent legal title reports. Further details of this service can be found on the individual lot pages and on our website here. The auction will take place at The Millennium Hotel, Grosvenor Square, London W1 at 12.30pm on October 23rd.
