More than a third (34) of the 90 properties to be offered at Acuitus’s 30 March sale are located north of the border, as sellers try to capitalise on strong investor interest in £1m-plus Scottish assets.
Raeburn House in Edinburgh (pictured) - an 8,778 sq ft office that currently produces an annual income of £119,000 and has potential for residential conversion - is being offered for sale with a guide price of £1.75m.
In addition, a bank on Gilmour Street, Paisley, is being offered with a guide price of £950,000. Let to the Bank of Scotland on a new 15-year lease from 2016 with no break options, the 9,242 sq ft building currently produces an annual income of £58,000.
“There has been strong private investor interest in Scottish investments, and we have made a sustained commitment to this market over several years,” said Acuitus auctioneer Richard Auterac.
He added that the catalogue demonstrated the increasing lot sizes at Acuitus sales, as 25 properties in the March auction were being offered with guide prices of £1m or more.
“This is a very important price point as it represents the size of asset that is very popular with the increasing number of high-net-worth investors who are accessing the property market through the auction room,” said Auterac.
13 March 2017
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2 February 2017