Nearly a third of the commercial properties sold at Acuitus’s first auction of the year were sold at prices in excess of £1m.
The 37 lots to find buyers sold for an average of £970,000, with almost £35m in total achieved and a success rate of 72%. Lots with long-term income or a London location prompted the strongest bidding.
Of 52 lots offered, 29 sold in the room, six sold prior and two have so far sold post auction. The highest price in the room was achieved on a supermarket in Wimborne, Dorset, let to the Co-op until 2034, which sold for £4.8m, a yield of 5.8%.
Acuitus auctioneer Richard Auterac said: “There were some big hitters along with large-scale residential investors making their first commercial purchases. Properties in the £1m-£5m range were the most popular.”
Interest in London locations was clear, with a restaurant in Kentish Town, NW5, selling for £985,000, a yield of 3.8%.
Another London lot, in Lewisham, SE13, comprising three shops with a dental surgery above and scope for residential conversion, sold for £2.2m, a yield of 4.4%.
The De Lunn Buildings in Winchester, a parade of five shops and seven flats, sold for £2m, a yield of 5.8%.
The sale took place at the Radisson Blu Portman Hotel, W1, on 16 February.
