A supermarket investment opportunity on the New Kings Road in London is expected to be one of the most hotly contested lots at the upcoming Acuitus commercial property auction on 13 December.
The 3,642 sq ft property at 100 New Kings Road (pictured) is leased to the Co-Operative Group until October 2032 at a current annual rent of £124,070. The lease features five-yearly CPI-linked rent reviews with a 1% collar and 3% cap annually compounded. The property is being offered on behalf of joint LPA receivers with a guide price of £1.4m.
Charlie Powter of Acuitus said: “Supermarket investments in residential areas have been a mainstay for the market for many years, offering owners reliable revenue streams from long-term occupiers and well-known tenants.”
Elsewhere in London, the 5,370 sq ft The Slug & Lettuce public house in South Woodford, which is let until 2039, is being offered with a guide price of £1.4m. Further assets across the capital include a high street retail and residential investment in Elephant & Castle, which has a guide price of £1.1m, and a residential asset above Boots on Camden High Street, which has a guide price of £1.1m-£1.15m.
John Mehtab of Acuitus said: “London-based assets have historically been an important driver in the commercial property market, and what we are seeing is that a slice of the capital is still a desirable addition to any investor’s portfolio.”
Other lots of note include a public house in Leeds city centre, operating as Bowers Tap, which generates £167,517 in rent and has a guide price of £1.3m, and a freehold restaurant in Royal Tunbridge Wells let until 2036 without break, which is being offered with a guide price of £1.25m.
Richard Auterac, chairman of Acuitus, said: “Our final catalogue of 2023 offers a variety of commercial investments that we expect will tempt buyers. Properties with strong covenants and/or those which offer active asset management opportunities have been in demand for much of this year, and we expect to see similar sentiment in the auction room later next month.”
The Acuitus auction will take place on 13 December at 1pm and will be broadcast via livestream on the Acuitus website with bidding online.
