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.”
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