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£1million+ lots dominate Acuitus sale


The recent Acuitus auction raised £17.332m from the sale of just over half of the 29 lots offered,


with 10 of these selling for more than £1m. By value, just under 75 per cent of the investments offered sold at an average price of £1.15m – substantially above the corresponding average sale prices in other autumn sales to date. A receivership retail and


OVERVIEW 110 sales by Christmas!


It’s Christmas time and the auctioneers are getting busy, David Sandeman’s auction


listings on www.eiggroup.co.uk seem to get ever longer; there are 110 auctions to be held across the UK between 1st and 17th December. As they usually don’t take place on Saturdays or Sundays, that means an average of eight auctions every day. Auction House have events in


their salerooms in Leicestershire, Thames Valley, Surrey, Cumbria, Lancashire, Norfolk and South Suffolk, Sheffield and North East. London auctions include Savills (residential) and Allsop (commercial) on 9th December, Acuitus and Harman Healy on 10th December and Andrews & Robertson and Savills (commercial) on 13th December. An interesting lot at the Acuitus sale is a prime retail investment on Ludgate Hill, in the City of London. The lot, just a few yards south of St Paul’s Cathedral, is let to Pret a Manger and William Hill, and is being sold on behalf of Royal London Asset Management Currently producing £202,500


per year the guide price is 60 DECEMBER 2010 PROPERTYdrum


£2,800,000, subject to contract, equating to a net initial yield of 6.83 per cent. A nice slice of city real estate.


14th December is a busy day in


London with auctions held by Sutton Kersh Binstock, Drivers & Norris, Allsop (residential), Barnett Ross and Countrywide all wielding the hammer. Then on 15th Barnard Marcus and King Sturge will be in action. 16th December is the last day of action with Allsop’s


(residential) final event of the year. Close to London, Network Auctions will once again be at Hatfield House, Romans will have a sale in Bracknell, Carter Jonas will be in action in Oxford while Thompson Wilson will be live in High Wycombe. Moving east, Cheffins, Aldreds, Goldings, Swindells, William H Brown and Brown & Co all have sales, while in the south east there are even more; Clive Emson has three sales and Austin Gray, Fox & Sons, Lambert & Foster, Nesbits, Brock Taylor and Dedman Gray will all be in action. In the south west there are 15


sales, including Stags, Clive Emson, Morgan Beddoe and Symonds and Sampson. There are ten sales in the Midlands, including Bigwood, Pennycuick Collins, Bagshaws and Edwards Moore. Moving north, nine sales will be


‘Roll up, roll up! It’s auction time! Eight sales a day, across the UK!’


held, by auctioneers including Pugh & Company who have a 66 lot residential sale and a massive 96 lot commercial sale on the same day. Eddisons, Edward Mellor and Sutton Kersh also have December sales. In Scotland it’s a quieter picture with only Wilsons and Countrywide having events.


residential investment in Bath Road, Hounslow, was the subject of fiercely competitive bidding and eventually sold for £2.81m to a group of local businessmen. This was a massive £1.3m above the initial guide price. Bidding was equally strong for 25 Litchfield Street, a restaurant, wine bar and residential property in London’s West End. This site, the home of what is thought to be London’s oldest French wine bar, Le Beaujolais, was bought for £2.04m at a yield of 3.94 per cent. Acuitus auctioneer, Richard


Auterac, commented, “The sale was clear evidence of the strength of demand for the right type of investments. Once again lots in central London and the south east were very popular, and there was clearly substantial buying power in what was a very busy room. This was borne out by the strong performance of the Hounslow and Litchfield Street investments amongst others. The £1m-plus average lot price and the average yield achieved at the auction – 6.4 per cent – are both testament to the quality of investments offered. “Following the uncertainty


of the summer period, clearer trends are now emerging in the market and this performance gives us an excellent platform for our next sale on December 9 for which we already have 30 lots in the catalogue.”


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