Acting on behalf of Clipstone, Franck-Steier Price have acquired a multi let trade investment on the edge of Abingdon.
The property is located just to the east of the A34 behind Fairacres Retail Park in an established industrial and trade location.
The property is multi let terrace of units let to three tenants, Wolseley, Edmundson Electrical & Basildon Chemicals. Two of the leases had short unexpired terms, the income was reversionary. Individual rents range from £6.50 per sqft up to £7.35 per sqft. The units totalled 12,943 sqft. The combined rent is £87,600 per annum.
The investment was purchased for £1,300,000, reflecting an initial yield of 6.36%. VSL acted for the vendor.