News about Commercial Property Sales and Investments
Bromsgrove purchase and letting
On behalf of a private property company, Sampson Moore purchased a retail and office investment in March 2017 at 71 High Street, Bromsgrove for £190,000. The ground floor tenant was due to vacate in June 2017, following which the shop was re-let at a higher rent so that the property now produces £19,600 pa rising to £22,000 pa by 2019. The new ground floor tenant is Carter Esquire who will open shortly as a menswear boutique.
Regent Street letting
Sampson Moore have secured the letting of the ground floor shop at 123 Regent Street, Leamington Spa. The shop has been let on a 3 year lease to Apex Textiles Ltd trading as Happyology Baby and Childrenswear. The rent is £28,000 pa.
Leamington Spa purchase
Sampson Moore have purchased an investment on behalf of property company clients comprising a retail unit with flat above at 123 Regent Street, Leamington Spa, for £428,500. The shop is vacant and is now available to let through Sampson Moore at £28,000 pa. The flat is let on an AST at £10,560 pa. The property lies close to the entrances to Royal Priors and Regent Court shopping centres.
Oxford rent review concluded
A rent review has been concluded by Sampson Moore on behalf of a private property company at 104 London Road, Headington, Oxford. The old rent was £22,000 pa and the new rent, which takes effect from February 2015, has been agreed on a stepped basis averaging £26,000 pa. The increase in rental value reflects the improvement in the location following the opening of Sainsburys and Tesco Express in the vicinity.
Walsall lease renewal agreed
Sampson Moore have negotiated a lease renewal at Unit 1, 3-5 The Bridge, Walsall on behalf of the landlord. Co-op Bank have taken a new 10 year lease from December 2014, subject to a break at 5 years, at a rental of £55,000 pa.