March 7, 2011
AXA Sun Life, advised by Kitchen La Frenais Morgan, has sold the freehold investment of 221-225 Grange Street, Birkenhead, Merseyside to Napier Brown Holdings for £2.375 million, reflecting a net initial yield of 6.6%
The 22,075 sq ft three storey shop, has a ground floor sales area of 7,621 sq ft, and is let to Iceland Foods Limited on a lease expiring in 2024. The property currently produces £175,000 a year.
Smith Price advised the purchaser.