Acting on behalf of M7 Real Estate, Lunson Mitchenall have completed the transaction of a mixed use healthcare investment located in Nottingham city centre for £2.75m, reflecting a net initial yield of 8.23%.
The freehold property which extends to 26,138 sq ft with dual frontage to Long Row and Upper Parliament Street.
The property is majority let to Nottingham City GP Alliance on a 10 year straight lease with RPI linked rent reviews and also includes a ground floor barbers let to Goat and a long leasehold interest over the Tesco Express.
James Cogavin, Investment Director at Lunson Mitchenall commented “This sale of this asset provides a great result for our client who acquired the asset in 2016. The property’s income profile providing a WAULT in excess of 9.5 years and RPI linked rent reviews on the majority of the income proved attractive to investors.”
Emma Charlesworth at Lunson Mitchenall, which acted as the sole agent on ...
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