Acuitus sold two-thirds of its catalogue last week, but warned that some vendors are still hanging on for unrealistic prices.
Thirty-six lots were offered at the Millennium hotel, W1, on 29 March. Some 64% sold, raising £14.6m. Yields averaged 7.74%.
Auctioneer Richard Auterac said: “The challenge lies in reconciling clients’ expectations with the market. A lot of clients, especially private property companies, are holding on to older property values, which do not always allow transactions to take place, so vendors need to make adjustments on pricing.”
Appetite for virgin stock, high-yielding industrial assets and quality retail investments remained strong, however.
The 17,000 sq ft Crigglestone industrial estate in Wakefield, West Yorkshire (pictured), sold for £722,000 – a 9.7% yield – off its £625,000 guide, while a Lloyds bank in Leighton Buzzard, Bedfordshire, sold for £780,000, reflecting a 4.7% yield.
