The seventh and final Acuitus auction of 2022 raised £13.92m with a success rate of 96%. During 2022, Acuitus has sold £174m of commercial property assets with 95% of the offered properties selling and an average lot size of £780,000.
Acuitus Chairman, Richard Auterac comments: “At the end of 2021 no one could foresee how things would change in 2022; but change they did. Change is a continual process and investors are learning how to adapt to some of the severest economic headwinds that have been experienced in 50 years.
“Although commercial property has come under sustained pressure in 2022 so has every aspect of the financial and economic world. The tangibility of bricks and mortar is highly attractive to many of our clients and there is now the opportunity to invest at attractive yields in assets which had been valued too highly.
“The volume of assets we have sold and the consistently high success rate we have achieved stand testament to the quality of assets brought to auction and the consistent depth in investor demand.”
Notable lots at the December auction include the sale of a B&M Bargains-occupied shop investment in Weston-Super-Mare which, with a guide price of £1,400,000, sold prior to auction at close to this figure. In Newcastle-under-Lyme, a substantial freehold office asset was sold for £800,000 with competing bidders pushing the price well ahead of the forecast guide, whilst a restaurant in Tottenham t/a German Doner Kebab, with the upper parts sold off on a 999 year lease, realised £785,000.
Richard Auterac continues: “Several properties from our catalogue were bought by investors who were seeking to add assets to their portfolios before the Christmas and New Year break. Our early survey of underbidders suggest that they still have funds to allocate to real estate. This bodes well for the market in 2023.”
The first Acuitus auction of 2023 will take place on February 16th and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
