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.
Paragon Way letting
Sampson Moore have let 15 Paragon Way, Bayton Road, Exhall, Coventry to TVH UK Ltd on a 5 year term at a rent of £34,500 pa. The modern unit comprised 6,924 of ground floor space and 665 sq ft of mezzanine storage.
Sampson Moore have purchased a leasehold industrial investment in Stratford-upon-Avon for Kindale Ltd for £975,000 reflecting a yield of 12%. The property comprises 25,719 sq ft and is located in Timothy's Bridge Road. It is let to Sitel at £125,000 pa until 2022 with a break in 2017. The property is leasehold from Stratford District Council expiring in 2068.