Acuitus has unveiled the catalogue for its first commercial auction of the year, with three Nottingham assets among the major draws.
A fully-let retail parade, with significant upper parts, at 13-25 Milton Street (pictured) in the city centre produces an annual rental income of £210,275 and is guided at offers over £2.1m.
On the Lenton Lane Industrial Estate, a rarely offered electricity generation facility is also up for auction with a guide price of £1m plus. It is located on a 3.25-acre site and produces an annual income of £72,000, which will rise to a minimum of £105,034 in 2025 on a lease expiring in 2035.
The final Nottingham lot in the sale is 16,375 sq ft of space on the Forest Court Industrial Estate, guided at offers over £1.495m. It comprises 11 fully let units and produces an annual income of £105,360.
Acuitus investment director John Mehtab said: “Each of these lots offer differing opportunities for buyers and we expect to see a wide range of investor interest in them. We are delighted to be acting jointly with Avison Young.”
The auction features a range of other assets including a mixed-use investment at 61-61a Kew Bridge Road, London, TW8, next to Kew Bridge railway station. The property currently comprises a café, fitness studio, and a flat which together generate an annual rental income of £88,200 and is guided at £1.4m.
In Newton Abbot, a retail park is for sale with a guide price of £2m. The newly-built asset generates £153,500 pa, and benefits from long leases to established retailers such as the Co-Operative Group, whose lease runs until 2037 with no breaks. All leases on the property are subject to five-yearly CPI-linked rental increases.
The 94,215 sq ft Trident Shopping Centre in Dudley is also being offered with a guide price of £2.75m. All of the shops in the centre are fully let and produce an annual income of £468,800. The freehold comprises 17 high street-facing shops and a further 10 shops within the mall. The Shopping Centre also benefits from parking for 175 cars.
A modern medical centre investment in Hastings is also being offered in the sale. The 7,622-sq ft Old Town Surgery on Rock-A-Nore Road is let on a 20-year lease, producing £125,255 in annual rental income, and is guided at £1.25m.
Acuitus chairman Richard Auterac said: “Encouraged by more favourable borrowing terms and the prospect of lower interest rates, investors are bringing new liquidity into the market and we believe this can translate into higher transactional volumes.
“However, buyers remain particular about their investment criteria and are very much focused on secure income and asset management potential”.
The auction will take place on 15 February and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
Photo © Acuitus
Share your feedback
