Retail News
Acting on behalf of Carol Harvey Estates, Steve Young of Fisher Hargreaves Proctor sold 15 Low Pavement, Nottingham to the Private Pension Fund at a price of £325,000.
The premises are subject to an existing lease to Miller Harris, who have approximately 8½ years remaining at a rent passing of £20,000 per annum.
This represents a net initial yield of 5.88% after allowing for the usual purchaser’s costs.
Steve Young commented:-
“Following the relocation of Carol Harvey Estates FHP was instructed to seek a new tenant in 2008. Having completed the letting in 2009, it is with great pleasure that we have now been able to sell the investment on behalf of our clients.”