Howard Jenkins has acquired on behalf of a private investment company client, a prime High Street investment in Stratford upon Avon let to Greggs plc; the shop is located on Bridge Street, next to McDonalds and opposite M&S, which Greggs has occupied for over 25 years.
The unit is currently let on a 10-year lease from July 2017, at a passing rent of £50,000 pa; having been marketed at £595,000, it was acquired at a net initial yield of c.8.15%. The vendor was a private pension fund client of AP Investment.