Corporate clients have acquired premises in Stricklandgate in Kendal as part of the continued expansion of their branch network. Extending to over 2,500 sq ft on 2 floors, the unit occupies an extremely prominent position at the junction of Stricklandgate and Sandes Avenue in the centre of the town. A new 10 year lease, with a break at year 5, was entered into at an initial rent of £30,000 pa

As part of their ongoing expansion plans, corporate clients have acquired a leasehold interest in premises in Alderley Road in the centre of Wilmslow which adjoin their busy existing branch. Following works to merge the units, over 3,000 sq ft of ground floor sales space will be created and given the landlord is the same for both units, terms for a new lease and a regear of the existing lease were agreed at a combined rent of £100,000 pa on the basis of a 10 year lease incorporating a 5 year break.

Impey and Company acted for the landlord.

Property company clients have acquired the freehold of this recently completed trade counter investment in Brackley from the developer, Tungsten Brackley Ltd.

The unit, which extends to 4,000 sq ft with excellent parking, sits on a small estate of similar units where other national occupiers such as Screwfix, Toolstation and Easy Bathrooms are represented. The unit is let to Rexel UK Ltd, trading as Denmans Electrical, for 10 years without break at an annual rent of £50,000 pa. The purchase price of £880,000 represents a net return of 5.35%. Atlas Real Estate acted for the seller in the transaction.

Acting on behalf of Family Trust clients of ours we have completed the acquisition of a budget hotel in Chepstow, South Wales. Situated next to the A48 close to the town centre, the property comprises a modern 22 bed hotel with adjacent car parking occupying a shared site with the Two Rivers bar and restaurant. Let to Marstons for a further 33 years, without break, on an index linked rent, the purchase price of £1,950,000 reflects a net return to the purchaser of 5.25%.

Philips Lockhart Starr acted for the vendor in the transaction jointly with ADS Real Estate Advisors.

Property Company clients have completed the acquisition of this trade counter investment on the recently developed Salwarpe Business Park in Droitwich. The property, which adjoins Paintwell, comprises an end unit extending to 3,163 sq ft (293.9 sq m) with 7 car spaces. Let to Toolstation until October 2031 at a current rent of £33,096 pa (£10.46 psf), the purchase price of £570,000 reflects a net return to the purchaser of 5.53%.

Atlas Real Estate acted for the vendor in the transaction.

Mark Atkins Associates has successfully disposed of a long income supermarket and car park investment in Bromsgrove town centre on behalf of a property company client. The supermarket extends to 9,009 sq ft over ground and first floors, and the adjoining car park extends to 86 spaces. The supermarket is let to Waitrose Ltd and the car park to Bromsgrove District Council.  Both leases expire in March and April 2032 respectively, with 5 yearly reviews to compounded CPI collared at 1% and capped at 3% per annum.  The total income is £210,064 per annum. The property was sold for £4,150,000 reflecting a net initial yield of 4.75%.

Atlas Real estate acted for the purchaser, a private investor.

Family Trust clients of ours have completed the acquisition of this Budget Hotel and Fast Food investment situated adjacent to the A483 dual carriageway in Wrexham, North Wales. Occupying a site of some 1.5 acres, the property comprises a 32 bed hotel, a Starbucks Coffee Shop and Subway Food to Go unit all let to Travelodge on an FR&I lease expiring in August 2044 at a current rent of £128,382 pa with RPI reviews.

Kimmre acted for the vendor in the transaction.

Property Company clients have acquired this recently completed industrial investment on Salwarpe Business Park in Droitwich. The unit, which sits next to Toolstation and close to Screwfix, REM Systems and Black Pear Electrical, extends to 3,400 sq ft and is occupied by Paintwell Ltd on a new 10 year lease at a current rent of £35,679 pa. The purchase price of £651,000 reflects a net return of 5.21%.

Atlas Real Estate acted for the vendor, Commercial Buildings Bromsgrove Ltd, in the sale

Demonstrating the popularity of small industrial investments we have sold the virtual freehold interest in this modern industrial unit to a private investor at a figure reflecting a net return of 5.1%. The unit, which extends to 4,800 sq ft, is occupied by Key Safety Logistics Ltd on an FR&I lease expiring in March 2036 at a current rent of £24,600 pa.

AP Investment acted for the purchaser.