A private investor has acquired a Grade II listed retail unit leased to The White Company in Stratford Upon Avon.
The unit at 23 Bridge Street, in the centre of the historic town, was marketed for offers in the region of £1.6m at a net initial yield of around 4.8%.
It comprises ground floor and first floor sales space of 3,550 sq ft, with a further 1,080 sq ft of ancillary space, and produces a rent of £80,000 per annum. The White Company has a five-year lease on the unit.
Chris Gaskell, retail agency partner at Johnson Fellows, who acted on the sale, said: “Stratford Upon Avon is an affluent town, being a major international tourist destination with over 2.5 million visitors annually. It’s therefore an extremely attractive proposition for retail property investors.
“We expected a great deal of interest in the sale of 23 Bridge Street, and we were not disappointed. It’s in a prime position near other leading retailers, including Joules, Waterstones and Costa Coffee. Being right at the core of the town centre makes it a sound investment and we were delighted to complete the sale after receiving plenty of competing interest.”
