Sampson Moore have completed the sale of two retail investments, acting jointly with FSP, for fund manager clients.
96 High Street, Worcester has been sold for £1.34m, reflecting an initial yield of 5.5%. The property is let to Fat Face Limited until June 2024 at a rent of £78,000 pa. Sampson Moore also advised prior to the sale on the regear of the lease for a further 10 years to the tenant.
12 High Street, Shrewsbury has been sold for £607,000, reflecting an initial yield of 6.23%, with reversion to circa 7.25%. The property is let to Essensuals Limited at £40,000 pa until November 2013.