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UK Shopping Centre Investments - Liverpool

BidX1 UK announce multiple auction dates in September

BidX1, the digital property investment platform, has launched two new catalogues ahead of auction dates on 23rd and 29th September. These latest catalogues, along with more than 50 residential properties listed in association with Foxtons, mean the online auction house is offering more than 100 UK properties this month.

The first auction will see forty-eight lots go under the hammer, with a combined capital value in excess of £9.5 million. Commercial and residential assets, along with sites and ground rents, are in the mix, with BidX1 acting on behalf of corporate sellers like UK Power Networks, Canal & River Trust, Southwark Council and Equilibrium Healthcare, as well as Housing Associations, LPA Receivers and banks.

On 29th September, just five lots are being offered, but with a combined capital value of more than £11.9 million. Two shopping centres, a commercial development opportunity and two residential investments will go under the digital hammer on the day.

23rd September Auction

The Former Bigfoot Hospital in Manchester, which is being offered on behalf of a healthcare operator, is the stand-out lot in the September 23rd auction. BidX1 are guiding £1.2 million for the vacant, freehold former hospital, which extends to more than 20,000 sq ft, and may suit alternative uses such as student accommodation, subject to the necessary consents.

A freehold convenience store investment in central Cardiff – one of six neighbourhood convenience stores that BidX1 are offering on behalf of a property company – is listed with a guide price of £850,000. The store is let to Tesco Stores Ltd, generating £91,000 per annum.

Other notable properties include a freehold four-bedroom house in Kennington, which BidX1 are offering on behalf of Southwark Council. Situated within the Elliots Row Conservation Area, the property requires modernisation and BidX1 are guiding £750,000+.

29th September Auction

Two shopping centre investments, both in Liverpool, will be the highest value properties offered on 29th September. BidX1 are guiding £4.6 million for the Belle Vale Shopping Centre, which reflects a capital value of £15.37 per sq ft. The centre attracts footfall of approximately 3 million shoppers each year.

The scheme provides 302,831 sq ft (28,134 sq m) of retail accommodation with a total of 67 retail and leisure units. Currently 83% let by floor area, tenants include Wilko, B&M, Argos, McDonald’s, Greggs, New Look and Poundland.  The gross passing rent is £1,802,529 per annum, resulting in a net operating income of £1,024,735 per annum.

The Port Arcades Shopping Centre at Ellesmere Port in Liverpool will be offered with a guide price of £3m, reflecting a capital value of £8.76 per sq ft. The property boasts a strong range of tenants including Wilko, Iceland Food Warehouse, EE, Peacocks, Specsavers and Boots, but also offers significant asset management potential totalling 326,217 sq ft (30,307 sq m). The centre is currently generating a gross income of £1,566,965 per annum.

Another notable lot comprises eighteen self-contained flats (17 x studios and 1 x one bedroom flat), arranged over the first, second and third floors of a prominent corner building at the junction of Kingsland Road and Dalston Lane in Hackney. Thirteen of the flats are tenanted, producing £171,879.60 per annum. The property is on offer with a guide price of £2.3 million.

Also being offered on the day is a freehold house arranged as ten studio flats in Cricklewood, guiding £1,225,000, and a vacant former industrial premises with development potential in Dover which is guiding £800,000 - £850,000.

Oliver Childs, Head of Commercial Auctions at BidX1, commented, “We noted a clear window of opportunity for sellers following our summer sales, and we continue to leverage the flexibility of our digital platform to allow clients to take advantage of that pent-up investor demand. This month, that means multiple auctions dates, and we’re pleased to be acting on behalf of several new clients, a trend we expect to continue into Q4 as increasing numbers of vendors of all stripes seek to maximise return using best-in-class online methods.”

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