On behalf of private clients, Cooper Rose Real Estate has acquired the long leasehold interest in a prime high street retail investment in Southampton.
The property is let to WH Smith plc and Zurich Assurance Ltd until December 2049 at a total rent of £375,275 per annum. Zurich have sublet their unit to Vodafone.
The property was acquired for a price of around £5.4m, reflecting a net initial yield of approximately 5.56%.
Contact Ben Rose or Giles Cooper