Acuitus has released a 46-lot catalogue for its commercial property auction on 31 March.
One highlight is a vacant 34,378 sq ft office building on a 2.2-acre site in Andover, Hampshire, which has residential development consent. Guilbert House (pictured), which also has a 200-space car park, is being offered with a guide price of £3m+.
Acuitus director Charlie Powter said: “Approval has been granted for conversion of the office building to 66 apartments, and there could also be scope for further development on the car park subject to consent.”
A property in Reading’s Broad Street also has redevelopment potential. It comprises three shops and 15 apartments, and is located in the heart of the town’s retail district and close to the Oracle Shopping Centre. The lot has a guide price of £1m.
In Romford, the former Bitter End pub at 15-17 High Street has a guide price of £3.45m-£3.55m. Acuitus director John Mehtab said: “This is a strategically positioned property in the town centre with development potential, and is a rare opportunity to buy in this location.”
The March sale also offers a wide range of investment opportunities, including Rhodes House retail parade in Leeds which comprises three supermarkets, a hair and beauty salon and two electrical shops. The current rental income from the investment is £361,110, and it is being offered with a guide price of £3.25m-£3.4m.
Acuitus director David Margolis said: “Rhodes House is located at Vicar Lane between the Victoria Quarter and the new Victoria Gate John Lewis development. It is a property which offers a good level of secure rental income, and also the scope for active asset management.”
Similar lots in the sale include a fully-let mixed-use parade in Wickford, Essex producing annual income of £181,750 with a guide price of £2.3m-£2.4m, and a five-shop parade in Stroud with residential units above which together produce income of £121,840. Located on Kendrick Street, it is guided at £1.35m-£1.4m.
Richard Auterac, Acuitus chairman, said: “We’re now see an increasing volume of properties in our auctions that offer immediate opportunities for asset management where the value is underpinned by both commercial and residential elements. Sellers are alive to the depth of demand, and as a consequence there are some exciting assets now coming to the market.”
The Acuitus auction will take place on 31 March and will be broadcast via livestream.
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