The sixth and final Acuitus auction of the year offers 91 lots and will take place on Thursday, December 8th.
Investor demand in the auction room remains at a very high level: sale volumes at our first five auctions of the year have totalled around £315m which is 33% up on the corresponding sales last year.
The December auction encompasses a wide range of retail, office, industrial, ground rent and leisure assets producing current total rental income in excess of £4m.
Lots have been entered by major institutional and investment funds including Aviva Investors, LaSalle Investment Management, Hansteen Property Investment, Valad Property Group together with Administrators and Receivers including CBRE, Alix Partners and Moorfields.
Properties in the auction include:
- Hook – Bartley Wood Business Park: freehold office investment 2,980 sq m (32,000 sq ft approx) well-located and close to M3. Let to Hewlett Packard on renewed lease at a current rent of £560,000 pax. Guide price: £4.75m-£5m (11.50% gross initial yield)
- Leeds City Centre – 34 Lisbon Street: contemporary office building of 2,109 sq m (22,700 sq ft approx). Newly refurbished with secure car parking. Vacant possession with residential redevelopment potential (subject to necessary consents). Guide price: £3m
- London, NW5 – 242 Kentish Town Road: freehold retail and residential ground rent investment. Shop let to Holland & Barrett (on assignment from Foxtons) from June 2015. Currently producing income of £87,650 pax Guide price: £1.3m (6.75% gross initial yield)
- Leicester – 29 Gallowtree Gate & 65-69 Market Place: freehold parade of six shops with upper parts in prime location. 1,023 sq m (11,000 sq ft approx) producing £226,000 pax Guide price: £2.1m-£2.2m (10.5% gross initial yield)
- Godalming High Street: freehold bank with upper parts entirely let to Barclays Bank until 2026 (subject to option) and currently producing £57,600 pax. Guide price: £950,000 (6% gross initial yield)
- Glasgow – Custom House, Clyde Street: hotel development opportunity with full planning consent for 209-bed hotel overlooking the River Clyde and close to Central station and prime shopping area. Guide price: £2.75m
The auction will take place at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG at 1pm on Thursday, December 8th.
