December 5, 2011
A private investor client of Mason Philips has sold a 9,870 sq ft trade counter unit with offices in Park Farm Industrial Estate, Folkestone, Kent for £1.105 million, reflecting a net initial yield of 6.41.%.
The property comprises 8,492 sq ft let to Travis Perkins (Properties) Ltd, trading as Tile Giant, on a 15-year lease from December 2006 at a rent of £65,000 pa and 1,378 sq ft of first and second floor offices let to Family Matters Fostering. The rent is £10,000 a year on a 15-year lease from September 2007.
KA Property advised the private purchaser.
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