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- This retail investment property comprises a retail unit over ground and basement floors totalling 7,525 ft2
- The upper parts (18 apartments) had been previously sold off on Virtual Freeholds
- The unit is let on FRI terms to Poundland Ltd for 15 years from 14 June 2013 (13.6 years unexpired term certain)
- Producing a rent of £180,000 per annum / £23.92 psf (overall), with upward only rent reviews to open market rental value every 5 years
- We sold the 998 year Virtual Freehold of the retail unit for our overseas clients for c. £3.4 million, reflecting a NIY of c. 5%
- The property was purchased by overseas investors
