News about Commercial Property Sales and Investments
Scunthorpe lease renewal
On behalf of a private pension fund client, Sampson Moore have agreed a lease renewal of a prime retail unit at 95 High Street to Vodafone at £19,750 pa. The lease was for a term of 5 years with break at 3.
Sitel rent review
Sampson Moore have agreed a rent review on behalf of Kindale Limited on an industrial unit at Timothy's Bridge Road, Stratford-upon-Avon at a rent of £154,000 pa, reflecting an increase of 23.2%.
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.