London Clancy, acting on behalf of a private Client has sold the long leasehold mixed investment in the above sites.
The ground leases had some 134 years left unexpired and rent reviews were on the basis of bare site value or if redeveloped 13.5% of the full rental value of the redevelopment.
The total site area is circa 1 acre.
Tenants include; C Brewer and Sons Ltd (Trading as Cane Adam), Southern Roofline Supplies, Servio Ltd and Speedy Tool Hire. The occupational leases were on effectively Fully Repairing and Insuring basis.
The Price achieved is confidential but the quoting price overall was in excess of £700,000 plus VAT. The yield achieved was circa 9.6%.
The agents acting for the Purchaser were Ellis and Partners based in Bournemouth.
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