The second Acuitus auction of 2014 will offer 51 lots that currently produce total income of £5.4m
The catalogue for the March 27th sale – which can be viewed here – is the largest that Acuitus has brought to the market for a March auction and we feel this is indicative of the momentum in the market. The assets for sale represent a wide geographic spread across the UK and a similarly extensive range of investment opportunities with guide prices from £100,000 to £5m+. Lots featured in the auction have been entered by vendors including NHS Property, Helix Property Advisors together with banks, a major fund, trustees and LPA Receivers and Joint Fixed Charge Receivers at DTZ, GVA, Edward Symmons and Fairacre.
Properties in the auction include:
- Debenhams, Station Road, Harrow: major ground rent investment let to Nominees of the M&G Property Portfolio (formerly the Prudential) until 2074 at a current of £412,500pax geared to 35% of Annual Market Rental value. Guide price: £5m+
- Prezzo, Thorpe Road, Norwich: freehold restaurant investment let to Prezzo until 2030 at a current rent of £75,000pax. Guide price: £1.15m-£1.2m
- Regent House, Clinton Avenue, Nottingham: substantial office Investment with majority let to Clinton Avenue Properties BDO Accountants (with guarantee from Pannells LLP) at current rent of £181,250pax. Guide price: £1.4m
- 211-213 Whitechapel Road, London: freehold retail and residential investment. Shop let to Baleday until 2025 with three flats let on ASTs above at a current rent of £117,313pax. Guide price: £1.4m+
- Lakeside Plaza, Cannock: multi-let office, retail, leisure and storage investment. Tenants include Siemens plc and currently produces £449,265pa (gross). Guide price: £1.75m
- 88-104 High Street, Ayr: substantial retail investment let to Bhs until September 2082 with five-yearly reviews at a current rent of £689,995pax. Guide price: £5m
- Gatwick Business Park, Horley: freehold multi-let industrial investments. 5.78 acres (approx.) fully let and producing £366,843pax. Guide price: £3m
- Waterside Drive, Dunston, Gateshead: freehold driving test centre let to Secretary of State for Community & Local Government until 2047. Producing £181,694pax with 5 yearly uncapped RPI linked reviews. Guide price £1.95m+
Stuart Buchanan of Acuitus Finance can quote financing terms for all lots in the sale, and can be contacted on 07879 432868 (stuart.buchanan@acuitus.co.uk). The auction will take place at The Millennium Hotel, Grosvenor Square, London W1 at 1.30pm on March 27th.
