Busy Bees, 2 Armstong Road, Littlemore, Oxford, OX4 4XT
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 is located in Littlemore, approximately 3 miles to the south of Oxford city centre and ½ mile to the south of the Oxford Eastern Bypass.
The property is let to Busy Bees Nurseries Limited for a term of 20 years with effect from 6th May 2015. The current passing rent is £110,000 per annum.
The property was purchased for £1,890,000 which represents a net initial yield of 5.50%, assuming full costs of purchase of 5.8%.
The purchaser was Fareham Borough Council and they were represented by Hellier Langston.