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Commodore Court, Nuthall Road, Nottingham, NG8 5DQ

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Apr 2016

Acting on behalf of REI plc, Franck-Steier Price has acquired this Sainsburys anchored retail investment in Nottingham.

The 2005 built retail and residential scheme comprised three ground floor retail units, anchored by Saisnburys. The 33 apartments above had been sold off.

The three units were let to Saisnburys, Barnardos and Bathstore. There was additional ground rental income from the apartments. The total rent roll was £216,710 per annum.

The investment was purchased for £2,385,000, reflecting a net initial yield of 8.59%. heb acted for the vendor.