M&Co Portfolio : 9 retail properties
Acting jointly with Acuitis, Fawcett Mead have sold 9 M&Co stores on a sale and leaseback basis. The stores in Wootton Bassett, Barnard Castle, Gosport, Cosham, Whitehaven, Trowbridge, Houghton Le Spring, Chester le Street and Ashington produced a total rent of £407,500. The total sale price was £4,109,000. Graham Fawcett commented: "We were delighted with this sale and it shows that rack rented assets sell well in the current market if they are priced correctly". The purchasers were private investors.
- Passing Rent: £407,500 per annum
- Price: £4,109,000
Zurich Portfolio : 22 Retail Properties
Fawcett Mead are delighted to have advised Columbia Threadneedle on the disposal of 22 retail properties throughout the UK with towns including Sheffield, Yeovil, Bognor Regis and Lichfield. The properties were let to a range of retailers on varying lease lengths. For more information please call Tom Heptonstall or Jonathan Mills.
The Cannon Portfolio
Fawcett Mead are delighted to have acted on behalf of our client Threadneedle Pensions Ltd, on the sale of this high street portfolio. The portfolio comprises nine properties situated in core trading positions across England. A purchase price of £11,400,000 reflects a net initial yield of approximately 8.00%. Fawcett Mead acted alongside Cooper Rose Real Estate on the sale.
- High street investment portfolio
- Passing Rent: £989,745 per annum
- Net Initial Yield: 8.00%
- Price: £11,400,000
Fawcett Mead are pleased to have acted on the sale of these three prime retail investments in Chichester, Lewes and Wimbledon, which together formed the Buckingham Portfolio.
- Portfolio of three prime retail assets
- Passing Rent: £190,655 per annum
- Net Initial Yield: 6.17%
- Price: £2,917,000
The portfolio offered assets in extremely affluent centres, with tenants including Natwest, Dip & Flip and CEX. The portfolio also offered excellent rental growth opportunities from low base rental levels.
A combined sale price of £2,917,000 reflects a net initial yield of 6.17%, assuming standard purchasers costs of 5.80%.
Project Charlotte : Nottingham & Blackpool
U+I, advised by Fawcett Mead, has sold a freehold investment portfolio of four retail properties in Nottingham and Blackpool for £13.2 million.
- Dual property portfolio
- Passing Rent: Tenants include Poundland, Sports Direct and Costa
- Net Initial Yield: 9.00%
- Price: £13,200,000
The properties, which formed part of Project Charlotte, are located at 6/10 Wheelera Gate, 1/9 Friar Lane and Pearl Assurance House in Nottingham and the Pricebusters building in Bank Hey Street, Blackpool.
Tenants in the portfolio include Poundland, Sports Direct, JD Weatherspoons, Lakeland and Costa Coffee.