March 11, 2014
RO Regional Properties, represented by HSM, has acquired Midsummer Place, Solstice Park, Amesbury, for £1.82 million, reflecting a net initial yield of 7.66%.
The investment comprises two restaurants let to Pizza Hut and KFC. Pizza Hut occupies a 3,250 sq ft on a lease expiring in November 2030 at a rent of £76,500 a year. Meanwhile KFC pays £70,125 pa for its 2,550 sq ft unit which is held on a lease until April 2031. Both leases are subject to five yearly rent reviews.
Lewis & Partners advised the vendor.
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