London Clancy, acting on behalf of a private Client has sold the long leasehold investment in the above sites and premises.
The ground lease had some 134 years left unexpired and rent reviews are at a gearing of 13.5% of rents receivable subject to a minimum.
The total site area is circa 1.46 acres.
Tenants include; Hertz (UK) Ltd, Brown Brothers Distribution Limited, Cyclotech Limited, ICTV Sales and Services Ltd. The permitted uses are for B1,B2 and B8 purposes. The occupational leases are on an effectively FRI basis.
The Price achieved is confidential but the quoting price was £2m plus VAT which showed a yield of 10%.
The agents acting for the Purchaser were Ellis and Partners based in Bournemouth.
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