Property agent heb has sold a £1 million commercial
investment at 540 Woodborough Road, Nottingham.
The property comprises of a former car showroom converted around
four years ago to provide two retail units, one of which is let to
Sainsbury's, with the other let to Vets4Pets.
Jon Emmerson, partner at heb, said: "We are delighted to have
secured this sale on behalf of my client. The property provides two
well let retail units with parking and fronting on to Woodborough
Road. Both leases have in excess of ten years remaining - which
means a great long term investment."
Acting on behalf of private clients, the fully let commercial
development has been sold to a Sheffield based investor. The
properties provide a total rent of £73,000 per annum and
6,000 sq.
Jon added: "The yield of 6.75% reflects that Sainsbury's
provides close to 60% of the rent that is payable, and while
Vets4Pets is a franchise operation, its business at the Woodborough
Road branch trades very well."
Andrew Butcher of Andrew Butcher & Associates acted on
behalf of the purchasers.