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.
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.
Mark Atkins Associates © 2020 - All Rights Reserved.
Regulated by RICS
