Swindon : Cavendish Square
Acting on behalf of CBRE Global Investors, Fawcett Mead has sold this retail investment to Swindon Borough Council. The purchase price of £3,127,000 reflected a NIY of 6%. The property is let to Mid Counties Co-op and Lloyds Pharmacy with a WAULT of 14 years.
- Freehold supermarket and pharmacy investment
- Passing Rent: £199,800 per annum
- Net Initial Yield: 6.0%
- Price: £3,127,000
Richard Bashford commented: "This property is located in a densely populated busy residential suburb and occupies a large site area. It attracted a strong level of interest and competitive bidding".
Swindon Borough Council was represented by Hartnell Taylor Cook.
Open Market Letting
Doncaster : Spotborough Retail Park
- Fawcett Mead are pleased to complete a new 10 year lease to Screwfix, on behalf of Atmore Group.
Okehampton : Co-op, Market Street
Fawcett Mead has recently advised on a lease re-gear and subsequent investment sale of this supermarket investment, which was let to Co-op for a term of 10 years. The property was sold on behalf of Kennedy Wilson to West Devon District Council, and the price of £3,365,000 reflected a NIY of 6%. Savills advised West Devon District Council.
- Passing Rent: £215,000
- Net Initial Yield: 6.0%
- Price: £3,365,000
Richard Bashford commented: “After working with the occupational tenant to re-gear the lease and complete their asset management plan, our client was very pleased with the price achieved on this investment sale."
Whitstable : Unit 1, 134 Cromwell Road
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Whitstable. The property is let to the Southern Co-Operative Ltd on a new 15 year lease without breaks. A sale price of £1,400,000 reflects a net initial yield of 5.38%.
- Let to the Southern Co-Operative Ltd on a new 15 year lease
- Passing Rent: £80,000 per annum
- Net Initial Yield: 5.38%
- Price: £1,400,000
Cheshire Oaks : Cheshire Oaks Leisure Park
Fawcett Mead are delighted to have acted on the sale of Cheshire Oaks Leisure Park on behalf of Lateral Property. The well-let leisure park is located in a prominent gateway site adjacent to the entrance of Cheshire Oaks Designer Outlet. The property provides a WAULT of 17 years and tenants include KFC, TGI Fridays and Costa Coffee. A purchase price of £6,630,000 reflects a net initial yield of 5.25%, assuming purchasers costs of 6.64%.
- Prime out-of-town leisure opportunity
- Passing Rent: £371,931 per annum
- Net Initial Yield: 5.25%
- Price: £6,630,000
St Helens : Central Retail Park
Fawcett Mead are pleased to have acted on the sale of this long-let retail park investment located in St. Helens.
- Let to Matalan Retail ltd and KFC (GB) Ltd
- Passing Rent: £480,500 per annum
- Net Initial Yield: 7.09%
- Price: £6,350,000
The property, which was built in 2000, is let to Matalan Retail Limited and Kentucky Fried Chicken (GB) Ltd with a WAULT of 8.56 years to expiry. The total current income is £480,500 per annum.
A purchase price of £6,350,000 reflects a net initial yield of 7.09%.