BOUTIQUE RETAIL INVESTMENT


November 10, 2010

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.”

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