January 13, 2015
Brookshire Capital, the property company set up in 2010 by Neal Taylor and Alex Wildman, has completed nearly £5 million of investment disposals in Reading and Worthing.
In Reading it has sold the Mothercare store and hotel bedrooms above, at 14-16 King Street, to a private investor. The sale price of £3.1 million reflects a net initial yield of 6.86%.The majority of the income is from Mothercare until 2025. HSM and Fawcett Mead advised Brookshire Capital.
At the Timberlaine Trading Estate, Worthing, Brookshire has realised £1.75 million, a 7.75% net initial yield, by selling three units totalling 24,500 sq ft to Clipstone. The property is let to Teledyne Limited at a rent of £144,000pa on a lease expiring in 2024 with a tenant break option in 2019.HSM represented Clipstone with Stiles Harold Williams acting for Brookshire Capital.
Brookshire continues to seek new acquisitions in the industrial sector and has recently invested a further £10 million in 3 single let warehouses in the South East and Midlands at an average yield of 8.4% and an average weighted unexpired lease length of 9 years.