Acuitus boosted by demand for alternative property investments
Acuitus said that demand for “alternative” property investments helped to drive sales at its October auction, at which it raised a total of £34m and recorded a success rate of 82%.
The auction house said that the three lots selling for more than £3m at its 24 October sale were all assets that did not fall into the traditional auction investment categories of pure retail, office and industrial.
A 17,173 sq ft Travelodge in St Clears, Carmarthenshire (pictured), was the lot that achieved the highest price on the day, going under the hammer for £3.21m, reflecting a yield of 5.6%. The property, comprising 51 bedrooms and a restaurant, is let to Travelodge Hotels until 2039 and currently brings in an income of £194,571 pax.
Acuitus said that demand for “alternative” property investments helped to drive sales at its October auction, at which it raised a total of £34m and recorded a success rate of 82%.
The auction house said that the three lots selling for more than £3m at its 24 October sale were all assets that did not fall into the traditional auction investment categories of pure retail, office and industrial.
A 17,173 sq ft Travelodge in St Clears, Carmarthenshire (pictured), was the lot that achieved the highest price on the day, going under the hammer for £3.21m, reflecting a yield of 5.6%. The property, comprising 51 bedrooms and a restaurant, is let to Travelodge Hotels until 2039 and currently brings in an income of £194,571 pax.
It was followed by a mixed-use block of eight shops and seven flats in Ware, Hertfordshire, with planning consent to be redeveloped into 32 homes and seven shops, which sold for £3.05m at a yield of just 1.3%.
And a block in Liverpool comprising seven shops, two pubs, a warehouse, a gym and a car park sold prior to auction. It had a guide price of £3m.
“Investors are increasingly alive to the opportunities provided by what the market calls ‘alternative investments’ – although these are now firmly in the mainstream when it comes to looking for long-dated income or active asset management,” said Acuitus chairman Richard Auterac.
“While we await a Brexit resolution, there will be increased flows of money targeting these investments, especially as some are perceived to have been underpriced through negative sentiment against the sector,” he added.
The next Acuitus auction takes place on 11 December at the Montcalm London Marble Arch, W1.
