The 46-lot catalogue features 12 properties with guide prices over £1m.
One of the larger lots on offer is the freehold interest in Neville House in Birmingham, a substantial 10-story office building situated in the heart of the city centre. The office and development opportunity comprises 28,176 sq ft and is being offered at a guide price of £3.25m, currently offering flexible office accommodation and benefitting from planning for a 72-unit aparthotel.
Charlie Powter of Acuitus comments: “This prime city centre investment offers a unique opportunity in the heart of Birmingham’s central business district. As it is mostly vacant, this iconic landmark building offers many different avenues for return on investment, as an office, or by residential, leisure or an aparthotel conversion, subject to consents.”
A substantial freehold retail parade investment in Barry, South Wales, is being offered at a guide price of £2.4m. Generating a total annual rental income of £401,550 and comprising an unbroken two storey retail parade of 13 shops, this prominently situated property forms much of Barry town centre; with tenants including Iceland, Greggs, Boots, NatWest, and Poundland.
David Margolis of Acuitus comments: “Situated in a prime location in the town centre, this retail parade offers a stable and diversified rental income for investors, as well as immediate opportunities for active asset management and additional space to be leased out.”
In Stamford, Lincolnshire, a unique freehold High Street retail investment is being offered with a guide price of £2.1m. Situated in a highly attractive Grade II listed building – St Michael’s Church – the property comprises three shops that have been continuously occupied for more than 20 years. In total, the property generates £173,750 in annual rental income from Nationwide, Boots Opticians and Vision Express, while also benefiting from a car park with 14 parking spaces.
John Mehtab of Acuitus comments: “Properties of historic interest that have already been converted into modern commercial space are sought after assets for investors, offering intrinsic value in the bricks and mortar, while at the same time offering good income in a strong town”.
In Barnet, North London, an historic Grade II listed cinema, designed by architect Edgar Simmons is being offered at a guide price of £1m, with the current 99 year leasehold expiring in 2032. The property generates an annual rental income of £216,509, subject to annual RPI-linked rent reviews, at a minimum of 1% and maximum of 5%.
Jon Skerry of Acuitus comments: “Rarely do we see such a building on offer in London that is still operating in its original form for almost a century. This cinema was revitalised in 2016 and remains an important cultural hub in the London Borough of Barnet, offering an interesting investment opportunity for investors.”
Other highlights include a freehold industrial asset in Swindon with a guide price of £2.5m; a mixed use residential and retail investment in Enfield, London, with a guide price of £2m-£2.1m; and an office and leisure investment in central Glasgow being offered with a guide price of £1.9m.
Richard Auterac, Chairman of Acuitus comments: “This catalogue demonstrates the existence of strong commercial property stock across different asset classes from right across the country. As we saw in our February auction, there is strong buyer sentiment for assets that are both correctly priced and offering active management or development opportunities for new owners.”
The Acuitus auction will take place on March 27th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
