Property overview

Argos, 32 Spring Gardens, Buxton, SK17 6DE

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£960,000
Dec 2012

Franck-Steier Price has recently completed the strategic acquisition of a prominent retail unit in the spa town of Buxton on behalf of Royal Ordnance Pension Fund.

The property, let to Argos, adjoins an existing retail terrace the firm bought for the same client back in 2010.  The unit is located opposite the Spring Garden shopping centre in the prime pedestrianised part of the town centre.

The ground and first floor unit unlocks possible longer term potential to the existing block but in the meantimme is let on a 10 year lease from September 2007 at a rent of £71,000 per annum.

The property was purchased for £960,000 which represents a net initial yield of 7.0%.