Barton Marina, Barton Under Needwood, DE13 BDZ
Acting jointly with Rushton Hickman, Franck-Steier Price have completed the sale of a multi-let retail investment at Barton Marina, Barton under Needwood.
The property formed part of an established marina complex and part of a wider leisure destination with walking trails and fishing lakes.
The 2008 built thirteen retail unit terrace with first floor office suite fronted onto the 300 berth marina basin. There is a large public walkway to the front of the units and communal parking to the rear.
The property comprised a total of 16,901 sqft of ground floor retail sales and ancillary first floor accommodation. The property was fully let to 12 independent trader tenants with a AWULT of 4.5 years to expiries. The total rent roll was £220,600 per annum.
The property was purchased by a private investor for £2,300,000 which reflected a net initial yield of 9%.