NEWS

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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.

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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.

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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.

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Retail and Residential Investment Acquisition, Sutton Coldfield.

A Property Company clients of ours have recently acquired a supermarket and residential investment in Little Sutton Road, Sutton Coldfield at a figure of £572,500. The property comprises a recently refurbished supermarket with 2 maisonettes over and a car park. Martin McColl occupy under the terms of a new 16.5 year lease at a combined rent of £32,965 pa which is subject to fixed uplifts. Savoy Stewart acted for the vendor, Northern and Midland Holdings, in the transaction.

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Retail Investment Acquisition, Monmouth.

Acting on behalf of property company clients we have recently acquired a prime retail investment in Monnow St Monmouth at a figure of £750,000. The modern unit, which extends to 1,500 sq ft or thereabouts, is occupied by White Stuff on a lease expiring in October 2021 at a current rent of £45,000 pa. Calan Retail acted for the vendor.

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Retail Unit Acquisition, Norwich.

To complement their expanding branch network in East Anglia, we have acquired a retail unit in Norwich for clients of ours. Occupying a prominent position on the corner of St Stephens St and Surrey St, the recently refurbished branch will provide 2,600 sq ft or thereabouts on 2 floors. A new 10 year lease has been entered into at an initial rent of £53,500 pa. Roche Retail acted for the landlord, Aviva, in the transaction.

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Retail Investment Acquisition in Hereford.

Property Company clients of ours have recently completed the acquisition of a retail investment in Hereford at a figure of £440,000 reflecting a net yield of 6.5%.

The unit, which occupies a prominent position on Broad St and extends to 2,700 sq ft or thereabouts, is let to A Plan Insurance on a lease expiring in November 2027 at a current rent of £29,900 pa.

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Retail Unit Acquisition in Shirley.

Due to a programme of continued expansion we have acquired on behalf Corporate clients a retail unit adjacent to an existing facility in Stratford Rd Shirley. The new unit extends to circa 700 sq ft which, once merged with the current branch, will provide a total ground floor sales area of 2,100 sq ft or thereabouts. In tandem, we have agreed a regear of the existing lease.

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Industrial Investment Sale in Saltash.

Acting on behalf of property company clients we have sold the freehold interest in this property to a local private investor for £1.825m.
The modern industrial unit extends to 27,300 sq ft or thereabouts on a site of circa 2 acres and is occupied by Righton Ltd on a lease expiring in June 2025 at a current rent of £141,000 pa rising to £163,000 pa in January 2020. The purchaser was represented by Sanderson Weatherall in Bristol.

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