Acuitus raised £23m from its July sale, with a children’s nursery in Ely, Cambridgeshire, among the highlights. It recorded an 88% success rate.
The freehold of the Bright Horizons nursery in Ely sold for £1.57m at a yield of 6.6%. The lease was renewed earlier this year for 15 years at a current annual rent of £110,000 with five-yearly RPI-linked rent reviews.
Other sales included a multi-unit industrial/roadside asset in Derby, which went for just over £1m at a yield of 6.77%, and a retail and residential asset on Mitcham Road, Tooting, which sold for £975,000 at a yield of 3.69%.
A number of other high street retail assets sold at or prior to auction.
Auctioneer David Margolis said: “We had numerous approaches from investors, and it is clear there is still long-term confidence in many of the better high street locations across the country, providing there is proven occupier demand and the property is not over-rented.”
A 29,635 sq ft freehold office park in York, being offered on behalf of a major fund, also sold prior to auction at £2.75m.
Acuitus chair Richard Auterac said: “With interest rates increasing and financing becoming more expensive, it is more important than ever to offer solutions for investors to shape their portfolios to the changed environment.”
The next Acuitus broadcast auction of 2023 will take place on 21 September.
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