Commercial property Sold
Prime Freehold Retail Investment, 26-30 Potter Street, Bishop's Stortford
Investment for sale
£1,829,000 / NIY 7.00%
High street retail investment opportunity in the heart of Bishop's Stortford town centre
Thriving commuter town with large catchment area
Multi-let to three national multiple tenants with WAULT of 8.25 years to expiry and 2.96 years to break
Located in the prime pitch on Potter Street with nearby tenants including Costa Coffee, WH Smith, Boots, Marks & Spencer and Accessorize
Very prominent corner block with extensive retail gross frontage of 17.18m and return frontage of 11.64m
Medium term rental growth prospects at upcoming 2019 and 2020 rent reviews
Offers in excess of £1,829,000 for our client's freehold interest, subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 7.00% assuming standard purchaser's costs of 6.23%.
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