February 16, 2011
Valad ‘s Osprey Fund, represented by Edgerley Simpson Howe LLP, has sold the freehold retail investment of a former supermarket in Minstergate Street, Thetford to Breckland District Council for £3.5 million, to show a net initial yield of 6.75%.
The 30,000 sq ft former Somerfield store has been reconfigured in to a unit of circa 19,750 sq ft let to Wilkinsons on a lease with just over 10 years unexpired and a 10,150 sq ft Poundstretcher store occupied on similar terms. The head rent is £8.40 per sq ft, with the next review in March.
Breckland District Council was advised by Carter Jonas