Auction house Acuitus’s September commercial property sale will be its largest for three years, bringing to market 62 lots with guide prices ranging from £50,000 to £3.75m.
Among the highlights of the sale, which takes place on 21 September, is a Grade II listed freehold restaurant, office and residential investment in the London Borough of Kensington (pictured). It is offered with a guide price of £3.75m which reflects a net initial yield of 5.7%. The 4,450 sq ft property comprises a restaurant let to Flat Iron, with a separately let clinic and a three-bed assured shorthold tenancy maisonette. The current annual rental income is £215,500.
The sale also features a Kensington residential block of 20 self-contained flats at De Vere Gardens. Eighteen of them are subject to long leases and three of these have less than 50 years unexpired, providing potential for lease extensions. Generating current annual income of £25,230, the investment has a guide price of £1.8m.
Acting on behalf of a major UK fund, Acuitus is also selling an office freehold opportunity on the Stockley Park development near Heathrow. The 37,664 sq ft property at 1 The Square sits on a 2.2-acre site with 160 car parking spaces. Offered with vacant possession, the lot is guided at £3m which reflects a low capital value of £80 per sq ft and provides opportunities for refurbishment or division.
Further lots in the auction include a portfolio of five trade counter Investments in Beverley, Bicester, Dunmow, Eastwood and Newark. All are let to Travis Perkins until 2031 (no breaks), with five-yearly rent reviews and minimum uplifts of 3% pa compounded. Guide prices range from £1.2m-£2m.
A fully-let freehold retail and residential parade in Woodley near Reading comprising five shops and eight separately accessed flats is also for sale. It generates annual income of £300,700 and has a guide price of £3m.
Five public house investments are also being offered in the September catalogue, all of which have their leases guaranteed by Stonegate Pub Company and are subject to CPI rental increases to a minimum of 1% and maximum of 4%, with competitive guide prices showing yields ranging from 11.8%-12.5%.
Acuitus chairman Richard Auterac said: “The progressive growth of our sales demonstrates a sector in transition as owners realign their holdings to changed market conditions and investors look to capitalise on new opportunities.
“Our proven ability to connect buyers with assets has generated our largest sale since 2020 and the diversity of sellers, from major private equity houses and UK institutions to high net-worth individuals and receivers, illustrates the widespread restructuring of the commercial property markets.”
The auction will take place on 21 September at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
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