Commodore Court, Nuthall Road, Nottingham, NG8 5HD
Acting on behalf of a private property company client, Franck-Steier Price & Fineman Ross have concluded the sale of 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 apratments above had been sold off.
The three units were let to Saisnburys, Memory Foam Warehouse and Bathstore. There was additional ground rental income from the apartments. The total rent roll was £206,710 per annum.
The purchaser was a small fund, who paid a price of £1,950,000, reflecting a net initial yield of 10%. Carter Towler acted for the purchaser.