The property is situated in a highly prominent location in Stratford-upon-Avon’s prime retail pitch of Bridge Street. The scheme comprises 11 units let to 9 tenants with 2 units under offer. WAULT 6.69 years term certain. Total rental income £299,500 per annum. Highly reversionary with an ERV of £339,200per annum. Offers sought in excess of £3,400,000 which reflects an attractive net initial yield of 8.25% and a reversionary yield of 9.38%, assuming purchaser’s costs of 6.49%.
Franck-Steier Price has recently completed the sale of a boutique shopping arcade in Stratford upon Avon on behalf of clients of CBRE Global Investors.
The property comprises two retail units fronting onto Bridge Street, the town’s prime retail pitch, together with a nine unit retail arcade to the rear situated around an open courtyard.
The property is let to nine tenants with one unit under offer and one unit vacant. The WAULT is 6.6 years to breaks and 8.5 years to expiries. The total current income is £299,500 per annum.
The property was sold for £3,540,000 which reflects a net initial yield of 7.94%. The purchaser was a private investor represented by Altitude Investments.