Topland Sells Two Freehold Retail Assets

April 29, 2015

Topland Group, advised by GCW, has realised £11.36 million with the sale of two freehold retail investments in Bedfordshire and West Midlands.

In Shefford, south Bedfordshire, Topland has sold a 27,158 sq ft Morrisons’ supermarket for £8.26 million, reflecting a net initial yield of 5.43%. GCW was instructed following a good result they secured at the December 2013 rent review where the rent moved from £423,333 pa to £475,000 pa. There are a further 8.5 years remaining on the lease. This sale was against a backdrop of some challenging conditions in the food store sector.

In West Bromwich, a private investor has paid £3.1 million for the freehold interest in 233-241 High Street, a prime shop let to New Look. The 30,461 sq ft property has 12 years remaining on the lease where the rent roll is £309,000 pa. The deal reflects a net initial yield of 9.4%.

–        ends –

Latest News

ORFORD HOUSE, NORWICH COMES TO THE MARKET

March 2, 2021 - 12:32

GCW, on behalf of a private landlord, has launched a prime flagship building in Norwich to the market. The former Debenhams store, named Orford House, is available for sale or lease and is offered as [...]

+ Read More

H&M COMMITS TO LONG TERM FUTURE AT SOVEREIGN CENTROS’ ST. ENOCH CENTRE

March 2, 2021 - 10:58

Sovereign Centros has signed a new 10-year deal with leading fashion retailer H&M, for its 32,000 sq ft store at the St. Enoch Centre in Glasgow. H&M is the latest in a long line of tenants to[...]

+ Read More

IV REAL ESTATE TRANSFORMS TWO BRISTOL OFFICE BUILDINGS

March 1, 2021 - 10:01

IV Real Estate has completed the refurbishment of two prime office buildings in Bristol city centre. Practical completion of 41 Corn Street and the adjoining Gilbert House has now been reached followi[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR