Property company clients of ours have completed the acquisition of this retail investment in the centre of Worcester. The property, which extends to 1,260 sq ft over 4 floors, is let to A Plan Insurance on a lease expiring in September 2023. The purchase reflects a net return of over 6.5% to the investor. Fisher German acted for the vendor.
Retail Investment Acquisition, Worcester
Office Acquisition, Worcester
Corporate clients have recently acquired a suite of offices extending to 1,260 sq ft on the second floor of 1 St Swithins Street in the centre of Worcester. A lease for a term of 10 years, with a break at year 5, has been entered into at a rent of £8,000 pa. Fisher German acted for the landlord in the transaction.
Convenience Store Investments Acquisition, Sutton in Ashfield and Dudley
Family Trust clients have completed the acquisition of two convenience store investments in Sutton in Ashfield and Dudley. Both units have recently been let to the Co-Op for 15 years, without break, at a combined rental income of £121,520 pa. The purchase price of £2.23m reflects a blended initial yield of 5.2% which will rise through five yearly fixed rental uplifts. AHBN acted for the vendor in the transaction.’
Retail Unit Acquisition, Lichfield
To complement their expanding branch network in the Midlands, we have acquired a retail unit in Lichfield for clients of ours. Occupying a prominent position on Bore St, the recently refurbished branch will provide 2,133 sq ft or thereabouts over 2 floors. A new 10 year lease has been entered into at an initial rent of £45,000 pa. Savills acted for the landlord in the transaction.
Industrial Investment Acquisition, Coombswood Business Park, Halesowen
Property Company clients have recently completed the acquisition of this industrial / warehouse investment on the busy Coombswood Business Park in Halesowen. The modern property, which extends to 7,162 sq ft or thereabouts, is occupied by Samworth Brothers Ltd on a lease expiring in April 2022 at a current rent of £48,085 pa. The purchase price of £805,000 reflects a net return of 5.7%. FSP acted for the vendor.
Motor Trade Investment Acquisition Adcock Rd, Coalville.
We have recently acquired this roadside investment in Coalville, Leicestershire on behalf of family trust clients at a figure of £1.2m reflecting 5.11% net. The modern property, which extends to approximately 8,000 sq ft with extensive on site car parking facilities, occupies a prominent position on the northern outskirts of the town close to occupiers including McDonalds, Halfords, Aldi, KFC, Lidl and Screwfix amongst others. Formula One Autocentres recently entered into a 15 year FRI lease at an initial rental of £65,000 pa. FSP acted for the vendor.
Drive-thru Investment Acquisition, Pencoed Business Park, Bridgend.
We have recently acquired a drive-thru investment on Pencoed Business Park at Bridgend for a figure of £1.8m reflecting 5.13% net.
Sitting adjacent to junction 35 of the M4 close to occupiers including McDonald’s, Premier Inn, Texaco and Sony, upon completion, the property will extend to 1,820 sq ft on a site of .66 acre.
Starbucks will occupy the property under the terms of a new 15 year lease at an initial rent of £98,000 pa which is subject to review 5 yearly to RPI caped and collared at 3% and 1% respectively.
Cushman and Wakefield represented the vendor.
Retail Investment Acquisition, The Shambles Worcester.
Property Company clients of ours have purchased a prime shop in The Shambles in Worcester at a figure of £800,000 reflecting a net return of 9.2%.
Occupying a prime position close to M&S, TK Maxx, Argos and Blacks, the property, which extends to 4,140 sq ft over two floors, is let to JD Sports Fashion Plc on a lease expiring in July 2023 at a current rent of £77,000 pa.
Fisher German acted for the vendor in the sale.
Restaurant Investment Acquisition, Builth Wells.
Family Trust clients of ours have recently acquired a Burger King restaurant opposite the Royal Welsh showground at the junction of the main A470 and A483 trunk roads on the outskirts of the popular market town of Builth Wells.
The detached, single storey building which extends to 2,840 sq ft on a site of 1 acre, is let to Euro Garages Ltd, with a guarantee from EG Group Ltd, on a lease expiring in December 2042. The passing rent of £71,575 is subject to annual reviews based on 2.25%.
The purchase price was £1.4m reflecting a net return of 5%. The vendor was represented by FSP.