Fawcett Mead have recently acted on the sale of the Trueman Potfolio to Thackeary Estate on behalf of Columbia Threadneedle.
- A mixed use, high street portfolio, with properties in Liverpool, Peterborough and Reading.
- Price: £2,000,000
The Trueman Portfolio consisted of a Bella Italia, located in Liverpool, a Pizza Express located in Peterborough and a Boots Opticians situated in Reading.
Graham Fawcett commented "Our client was delighted with this off market sale. This sector is having a tough time and we feel this represents an excellent result in the current situation"
Many thanks to Prime Retail who acted for the purchaser.
Leicester : Nuffield Health
Fawcett Mead are delighted to have advised Kennedy Wilson on the disposal of their freehold interest in the Nuffield Health Fitness & Wellbeing Centre in Leicester.
- Let to Nuffield Health on a new 20 year lease with no breaks
- Passing Rent: £365,000, per annum
- Price: £6,100,000
- Net Initial Yield: 5.6%
The property is let to Nuffield Health on a new ‘post-COVID’ 20 year lease, subject to five-yearly rent reviews, linked to CPI. Passing rent of £365,000 per annum.
Joe Baio commented “We are delighted to have advised Kennedy Wilson on the disposal of their freehold interest in the Nuffield Health Fitness & Wellbeing Centre in Leicester, which is let to Nuffield Health on a new ‘post-COVID’ 20 year lease.
We undertook a targeted marketing campaign which yielded a very strong result of £6,100,000, reflecting 5.6% Net Initial Yield. The buyer completing in just 10 working days from agreed Heads of Terms.”
Clifton, Bristol : The Clifton Sausage
Fawcett Mead are delighted to have acted on the acquisition of this rare Clifton Village freehold, on behalf of a syndicated investor.
- Let on a 25 year unbroken lease until November 2039
- Passing Rent: Passing rent of £72,500 pax set at review in November 2019
- Price: £1,050,000
- Net Initial Yield: 6.53%
The restaurant has traded since 2002 and become a local institution. The property includes a flat on the first floor.
Kevin Conibear at Fleurets acted on behalf of the vendor.
Milton Keynes : Roebuck Way
Fawcett Mead have recently acted on the successful disposal of this long leasehold leisure investment in Milton Keynes.
- Let to 360 Play, a childrens soft play centre, until 2029
- Passing Rent: £152,000 per annum (£12.93 psf)
- Price: £1,840,000
- Net Initial Yield: 7.7%
The property is let to 360 Play, a childrens soft play centre, until 2029 (without breaks).
The site comprises 1.2 acres with approximately 75 car parking spaces.
Joe Baio commented, "Following a best bids process, our client was extremely pleased with the exit, which was ahead of the quoting terms."
LSH acted for the purchaser.
Sevenoaks : 3c Dorset Street & 6-10 Bank Street
Fawcett Mead are pleased to have acted on the disposal of this attractive retail and leisure investment in Sevenoaks, on behalf of The Milton Group.
- Freehold investment in affluent London commuter town
- Passing Rent: £99,000 per annum
- Price: £1,175,000
- Net Initial Yield: 7.9%
The property is let to Giggling Squid and two independent occupiers, producing a total rent roll of £99,000 per annum.
The purchase price of £1,175,000, reflecting a net initial yield of 7.9%.
Joe Baio commented: “Having undertaken an extensive asset management programme, our client decided to sell this property, which displayed a WAULT of 13 years. We were pleased to have secured a strong exit for our client."
Camden : 40/42 Parkway
Fawcett Mead are pleased to have sold this prime retail investment in the world famous London suburb of Camden. The property was sold on behalf of an overseas private investor to a private investor client of BNP Paribas.
- Mixed-use investment on one of the main commercial thoroughfares in Camden
- Passing Rent: £130,732 per annum
- Price: £3,825,000
- Net Initial Yield: 3.20%
The sale price of £3,825,000 reflects a net initial yield of 3.20%.
Graham Fawcett commented: "The vendor was delighted with the price achieved for this asset. Secure, London investments remain incredibly popular and this transaction highlighted this."