FHP……A SAFE BET FOR PROPERTY INVESTMENT!


April 1, 2008

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”

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