NEWS

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PFS Investment Acquisition – Bridgend

Private Investor clients of ours have recently acquired a petrol filling station with ancillary convenience store and a stand alone Dominos Pizza unit on Tremains Road, Bridgend. Let to Rochpion Properties, with a guarantee from Co-Op Group Food Ltd, on a lease expiring in June 2027 at a current rent of £108,663 with annual uplifts, the purchase price of £1.425m reflects a net return of 7.2%.

The vendor was represented by Allsop.

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Retail Investment Acquisition – Hereford

Represented by Mark Atkins Associates, a private investor client has recently completed the acquisition of a retail investment in Hereford city centre at a figure of £510,000 reflecting a net return of over 15%. Let to Boots Opticians and The Works with a further 3,800 sq of vacant accommodation above and to the rear with potential for conversion, the property produces a combined annual rent of £81,500.

The vendor was represented by MacLaren and Partners.

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Retail Unit Acquisition – Market Harborough

Occupying a prime position in The Square, Market Harborough, corporate clients of ours have acquired a retail unit of circa 1,450 sq ft over 2 floors as part of their continued expansion. A new 10 year lease, with a tenant break at year 5, was entered into at a commencing rent of £39,500 pa.

Space Retail acted for the landlord.

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Industrial / Trade Counter Unit Acquisition – Malvern

Acting on behalf of a property company client, Mark Atkins Associates have acquired a modern industrial / trade counter unit on the edge of Malvern for £300,000. The property is located on the established Malvern Business Centre and is part of a nine unit trade scheme built in 2007. Occupiers nearby include Screwfix, City Plumbing and Malvern Glass. The property, which comprises a mid terrace unit of 2,905 sq ft, was let post completion to Contract Flooring Solutions Ltd on a 5 year lease at £21,000 pa.

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Retail Unit Acquisition – Stratford upon Avon

Corporate clients have acquired a prominently positioned corner unit on Birmingham Road in the centre of Stratford for a new branch office. Extending to over 1,600 sq ft over 2 floors a new 10 year lease was entered into at a commencing rent of £35,000 pa.

Tim Cox Associates acted for the landlord in the transaction.

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Convenience Store Investment Acquisition – Thornbury

Pension Fund clients have acquired a recently completed convenience store in Badger Rd, Thornbury for £1.08m reflecting a net return of 5.25%. The property, which forms part of a 1,500 unit residential development to the north of the town centre, extends to 3,460 sq ft with 8 on site car spaces. The Co Op have entered into a 25 year lease without break at an initial rent of £56,000 pa. MacLaren and Partners acted for the vendor in the sale.

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Industrial Investment Acquisition – Leamington Spa

Property Company clients have acquired 3 new industrial units on a recently completed development at Tachbrook Park, Leamington Spa known as T1300. Extending to 6,590 sq ft the units are constructed to a very high specification incorporating solar panels and electric vehicle charging points. One of the units is occupied by Cadent Gas Ltd and two units are available to let. The developer, AC Lloyd, was represented by MacLaren and Partners in the sale

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Roadside Investment Acquisition – Rhyl

Acting on behalf of a Pension Fund client we have completed the acquisition of a new roadside scheme at Bodelwyddan in North Wales for £2,125,000 reflecting a blended yield of 5.26%. The development comprises two units extending to a total of 5,800 sq ft with 67 on site car spaces on a prominent 1.3 acre site adjacent to junction 25 of the A55 North Wales Expressway. Spar and Costa have entered into leases for 15 years without break at a combined rent of £116,000 pa.

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