Busy Bees, 1 Morley Crescent, Browns Wood, Milton Keynes, MK7 8HT
Franck-Steier Price has recently completed the sale of a well let Children’s day nursery investment on behalf of an investment trust.
The property lies in an established residential area in Brownswood which is approximately 1 ½ miles to the north east of Milton Keynes town centre.
The property is let to Busy Bees Nurseries Limited for a term of 20 years with effect from 321st December 2014. The current passing rent is £110,000 per annum.
The property was purchased for £1,745,000 which represents a net initial yield of 5.95%, assuming full costs of purchase of 5.8%.
The purchaser was a private investor and they were represented by Shortland Penn & Moore.