A 56-bedroom Travelodge in Crewe was the big seller at Acuitus’ latest auction, selling for £2.25m.
The hotel is let to Travelodge until 2030 and provides an annual rent of £218,610.
A total of £39.6m was raised at the sale with 80% of lots selling.
Acuitus chairman and auctioneer Richard Auterac, said: “Once again, this auction demonstrated that, even in the most difficult economic and social situations, we are able to connect buyers with sellers and keep a vital part of the commercial property market moving forward.”
Other notable sales included a 3,605 sq ft shop in Caerphilly, let to Morrisons until 2064 with no breaks and sublet to Specsavers. It sold for £770,000, representing a 5.3% yield. A 15,727 sq ft office in a country manor at Datchet, Berkshire, sold for around 15% above its £1.7m guide price to an owner occupier.
Looking ahead to next year, Auterac said: “We believe that demand for property at both a macro and micro investment level will remain strong. In fact, it may be strengthened if the current – almost unprecedented – level of personal saving that has taken place since the first lockdown can find its way into the property market. “Creating a freely accessible, liquid and transparent marketplace will be important for future investors in commercial property. And in this respect, auctions will continue to play a key role through next year and beyond.”
Acuitus’ first auction of 2021 takes place on 11 February.
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