Cooper Rose Real Estate, together with joint agents Fawcett Mead, have sold the freehold interest in 16/17 North Street, Chichester for a price of £3,820,000, reflecting a net initial yield of approximately 4%.
The property is let to WH Smith Retail Holdings Limited on a full repairing and insuring lease for a term of 10 years from 25 December 2012 at a current rent of £163,750 per annum. There is an upward only, open market rent review on 25 December 2017.
Cooper Rose Real Estate acted on behalf of Savills IM.
Contact Giles Cooper