Retail News
Acting on behalf of HSS Investments Limited, Steve Young of Fisher Hargreaves Proctor has secured the sale of a mixed use investment at 240 – 242 Ilkeston Road to D&G Property Limited at a price of £233,500.
The premises comprise of a ground floor retail unit and three self contained flats.
The ground floor retail unit is currently let to Ladbrokes at a rent passing of £9,500, and there are two years remaining on the current term. The flats were offered with vacant possession.
Steve Young commented:
“Despite the recent softening of investment yields it is satisfying that we were able to secure a sale at a net initial yield of 3.96% with the purchaser taking a view on the reversionary income from the flats”