Kurt Geiger, 29 Bridlesmith Gate, Nottingham, NG1 2GR
Franck-Steier Price, jointly with Fawcett Mead, have recently concluded the sale of a prominent retail investment in central Nottingham.
The period building occupies a prominent location in the high end fashion pitch in the city. Nearby occupiers include Hugo Boss, Hobbs and Diesel.
The building comprises a ground floor retail unit with ancillary basement and two upper floors. The premises overall extend to 3,338 sqft.
The property was let to KG Group Holdings Ltd t/a Kurt Geiger on a 10 year lease from February 2010. The passing rent is £142,000 per annum which reflects £200 ZA.
A private property company paid £2,380,000, reflecting an initial yield of 5.64%.