FHP SELL BARGAIN BOOZE INVESTMENT IN NOTTINGHAM

Investment News

Alan Pearson Associate Partner of Fisher Hargreaves Proctor has sold the long leasehold investment at 69 Bracebridge Drive for £195,000.  The premises are let to a Bargain Booze franchisee on a 10 year lease, from October 2003 at a commencing rental of £13,000 per annum exclusive.  The sale represented a net initial yield of 6.49%.  The premises provide residential accommodation over the first and second floors, which can be separately let.

Alan Pearson of Fisher Hargreaves Proctor commented.  “Strong interest was shown in the subject premises, with Fisher Hargreaves Proctor undertaking a number of viewings at the property.  The eventual purchasers A & H Kavalieros Properties Limited putting forward the best offer and were in a position to move quickly, knowing the parade well and owning adjoining property.”