Auction house Acuitus raised £27.2m at its 18 October sale, with 68% of lots on offer selling.
Of the 35 lots sold at the Millennium Hotel, W1, 10 achieved more than £1m. The average sale price per lot was £778,000.
Acuitus auctioneer Richard Auterac said: “This auction definitely showed that there’s now a greater sense of purpose in the market. There’s more stock coming into the auction room. Vendors, with whom we work very closely to achieve their objectives, are increasingly realistic about pricing and are more in sync with the market.”
Highlights from the sale included a portfolio of three Sue Ryder charity shops, which all sold for an average yield of 6.24%.
Olivier House – a 25,773 sq ft freehold office investment in Brighton producing income of £293,000 pa – achieved the highest price of the auction, selling for £2.6m, while three LA Fitness gyms in Rugby, Brentwood and Maidstone sold for £1m, £1.7m and £1.2m respectively.
“We’re now seeing astute investors with asset management expertise at the regional and national levels coming into the market and backing themselves to enhance their purchases,” said Auterac.
samantha.mcclary@estatesgazette.com
