Acuitus is offering its largest catalogue of the year to date at its commercial property auction on 13 July, with nearly a quarter of the 54 lots having guide prices of more than £1m.
A freehold Travelodge hotel investment in Preston, Lancashire, which currently produces £231,081 per annum is being offered with a guide price of £3.25m+.
John Mehtab of Acuitus said: “The hotel sector is thriving again and the value operators are doing particularly well in the current climate. We have just sold the Travelodge in Newcastle, and we expect this Travelodge to generate significant investor interest.”
In Banstead, Surrey, the freehold of three shops on the ground floor, plus more than 3,000 sq ft of vacant office accommodation on the first floor, is being sold with a guide price of £2.5m-£2.6m. The High Street lot produces annual income of £194,925 and there is a change of use opportunity.
Charlie Powter of Acuitus said: “With its mixed uses and an entirely vacant first floor, this lot offers income and immediate asset management opportunities for active investors.”
The freehold of the 29,635 sq ft Alpha Court office park on the outskirts of York, which currently produces £331,725 in rent, has a guide price of £2.75m-£3m, and in Salisbury a Grade I-listed cinema, which is let on a long lease of Odeon Cinemas until 2089 without break and currently produces £64,422 in annual rent, has a guide price of £850,000+.
David Margolis of Acuitus said: “Located in the heart of the city’s retailing centre and close to the main entrance to Old George Mall, this is a unique property which also offers investors long-term, sustainable income.”
The July catalogue also offers a number of high street retail assets in London and the regions, industrial and warehouse investment opportunities and a shopping arcade, with sellers including receivers, institutional clients, fund managers and public and private property companies.
Richard Auterac, chairman and auctioneer at Acuitus, said: “Although economic uncertainty prevails, there are some excellent buying opportunities in this auction and the range of assets on offer will suit a wide spectrum of investor strategies.”
The auction will take place on 13 July 2pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
