50, 52, 56, 58 & 60 DERBY ROAD, NOTTINGHAM, NG1 5FD

Investment News

FHP Property Consultants are pleased to announce the completion of the sale of 58 Derby Road, Nottingham occupied by Welch The Florist.

The property was held long leasehold on a lease expiring 2144 at a peppercorn.  The property was let to Welch The Florist on a lease expiring October 2019 at a rent of £14,000 per annum, subject to review in October 2015.  The current rent equates to £23 Zone A with £3.50 on the basement.

The property was offered for sale at a figure of £167,500 and a transaction was agreed at £162,500 which shows an initial yield of 8.35%.

The purchasers, who are a private property company, were represented by David Tanner of Tanners Surveyors. 

Noel Roper of FHP Property Consultants acted on behalf of the vendors, Lancaster Properties and Developments.  Noel had originally acquired the whole parade of shops over 10 years ago.  Due to a change in strategy Lancaster Properties and Developments decided to realise their interest in these properties and sales have now been completed on 50, 52, 56, 58 and 60 Derby Road.  48 Derby Road is being retained by the current owners as a long term investment.

Noel Roper commented:-

“We were delighted to be asked by Lancaster Properties and Developments to realise their interest in these properties.  The properties were sold to a number of individuals, private property companies and SIPP purchasers.  Small investments such as these are difficult to find located in satisfactory positions and therefore as a result we were able to achieve good sale prices showing yield of between 8% and 9%.”

If you would like any further information please do not hesitate to contact Noel Roper.

END

Noel D. Roper                         

Date:  02/02/2015

Tel: 0115 8411132

Email: noel@fhp.co.uk  

www.fhp.co.uk