Introduction
Richard Auterac is a name synonymous with excellence in the commercial property auction industry. With a career spanning over four decades, he has established himself as a leading figure in the field, known for his expertise, success, and contributions to the industry. This blog delves into the illustrious career of Richard Auterac, highlighting his achievements, roles, and the impact he has made on the commercial property auction market.
Career Highlights
Leadership at Acuitus
Richard Auterac is the Chairman of Acuitus, a prominent commercial property auction house. Under his leadership, Acuitus has become a significant player in the market, selling around £250 million of assets at auction each year. The firm’s client base includes major financial institutions, property companies, and local public authorities.
Extensive Experience and Sales Record
With more than 40 years of real estate advisory experience, Richard has overseen the sale of over £7 billion of individual property assets. His extensive experience and deep understanding of the market have made him a trusted advisor to leading financial institutions, major property companies, public authorities, and private investors across the UK.
Founding Acuitus
Before founding Acuitus in 2010, Together with the incredible Peter Cunliffe Richard led the auction team at Jones Lang LaSalle (JLL), one of the world’s leading real estate advisory firms. His vision for Acuitus was to create a platform that not only facilitated property sales but also promoted the brand and raised awareness among a diverse range of investors both in the UK and internationally.
Industry Influence
One of the world’s most Prominent Auctioneers and Commentators
Richard Auterac is widely recognized as one of the best-known professional auctioneers and commentators on the UK commercial property auction and private investor markets. His insights and analyses are highly valued, and he has been a key figure in shaping the industry’s direction.
Ethical and Professional Standards
As the Chairman of the Real Estate Auction Group of The Royal Institution of Chartered Surveyors, Richard has been instrumental in promoting the highest ethical and professional standards in the UK real estate auction industry. He is also a member of the Investment Property Forum and has participated in various professional and educational organizations, including the Bank of England Residential and Commercial Property Forums.
Technological Advancements
Richard is a leading promoter of technology and research in enhancing client service. His efforts have helped Acuitus stay at the forefront of the industry by adopting innovative solutions that improve the auction process and client experience.
Market Impact
Successful Auctions
Richard’s expertise has led to numerous successful auctions. For instance, the first Acuitus multi-asset auction of 2021 raised £10.51 million with a success rate of 96%. This success is attributed to the market’s confidence, bolstered by declining Covid-19 cases, the resilience of the NHS, and the rapid rollout of the vaccine.
Diverse Asset Sales
Acuitus auctions have seen a wide variety of assets sold, from high street bank investments to industrial units and land. This diversity reflects the current market’s nature and the broad investment criteria of buying clients.
Trusted across the world of Local Authority Assets
Local authority-owned commercial property investments have become highly sought after by developers and investors at auction. Richard has highlighted the benefits of buying from specialist auctioneers, emphasizing the efficiency and value achieved through auctions.
Conclusion
Richard Auterac’s contributions to the commercial property auction industry are unparalleled. His leadership, extensive experience, and commitment to ethical standards have solidified his reputation as the world’s most knowledgeable and successful commercial property auctioneer. As a living legend, Richard continues to influence the market, ensuring that Acuitus remains a leading force in the industry.