NFU Mutual, Chapel Street, Cheadle, ST10 1AFMake an enquiry
Franck-Steier Price has recently completed the acquisition of a modern office investment on behalf of a private investor.
The property is located to the rear of Chapel Street, Cheadle, and comprises a recently completed office building of 200 sq.m (2,150 sq.ft).
The property is let to NFU Mutual for a term of 15 years from December 2011 at a rent of £33,325 per annum. There is a tenant break option in the 10th year.
The investment was purchased for £450,000, which reflected a net initial yield of 7.27%. The vendor was Hinton Properties, represented by Gerald Eve.