Investment News

Acting on behalf of their clients, Blueprint (General Partner) Limited, FHP Property Consultants are pleased to announce the sale of a self-contained freehold industrial unit located on the west side of Worksop Town Centre.

The property, which comprises a freestanding self-contained unit totalling 12,000ft², was let to Network Blinds on a lease expiring in November 2016, at an original rent of £54,000 per annum.

The lease was renegotiated reducing the rent to £50,000 per annum (£4.16 per ft²) for a term of years expiring November 2021 with a review in November 2019.

The price agreed was £570,000 which shows the purchasers an initial yield of 8.25% net of purchasing costs.

Noel Roper of FHP Property Consultants commented:-

“We were especially pleased to affect a sale of this excellent self-contained freehold unit once the lease to Network Blinds had been renegotiated.”

The purchasers, Vernon Holdings Limited, were a retained client of Brown and Company of Grantham represented by James Cameron.

If you would like any further information please do not hesitate to contact Noel Roper.

END

Noel D. Roper

Date: 12/01/2015

Tel: 0115 8411132

Email: noel@fhp.co.uk

www.fhp.co.uk