Acuitus sold all of the properties offered for sale at its July auction – the first time it has achieved this milestone since November 2022.
The company raised £16.76m from the sale of lots including an investment asset at Taylors Hill, Godstone (pictured), which sold prior to auction for £2.9m – ahead of its pre-auction guide of £2.75m.
A number of former funeral parlours were sold on behalf of a corporate client with one of the properties, which is located on Lower Addiscombe Road in Croydon, selling for considerably in excess of its anticipated price following strong bidding.
A mixed-use asset on Slough High Street, which features retail on the ground floor and has planning permission for five flats on the upper floors, sold for £752,000 at a yield of 5.3%.
Following strong competition, a retail and residential investment at 285 Watling Street in Radlett, Hertfordshire, sold for £668,000 at a yield of 6.1%, comfortably ahead of the advertised guide price.
David Margolis, director at Acuitus, said: “These assets attracted entrepreneurial investors who saw their potential for either residential conversion or alternative uses/redevelopment, as well as traditionally sought after locations. We have a hands-on relationship with all our investors right through the sale cycle. They like us listening to them and providing them with an attentive and professional service right up to the hammer falling and beyond.”
Richard Auterac, from Acuitus, added: “Our investors have been waiting a long time for some certainty to return to UK PLC. Post the decisive general election result we are expecting investor confidence to continue to strengthen over the summer. Feedback from our clients also suggests the market will receive a further fillip once the interest rate reductions kick in. Heralded by the 100% sale rate of this auction, we could be seeing, at long last, a turn in the market.”
Instructions are being invited for the next Acuitus auction, which will take place on 25 September.
