Rockspring Sells Wembley Retail Investment

March 1, 2012

Rockspring Property Investment Managers and Retail Plus have sold the freehold interest of 431-433 High Road, Wembley, north west London to clients of Pelham Associates for £1,412,500, reflecting an initial yield of 7.7%.

The 3,000 sq ft property is let to Shoe Zone on a new 10-year lease at a rent of £77,500 pa, with two separately let residential flats above.

Kitchen La Frenais Morgan acted on behalf of the vendors while Ockleston Bailey on behalf of the purchasers.

-ends-

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