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Franck-Steier Price has recently completed the acquisition a portfolio of neighbourhood centres on behalf of Local Parade Investments LLP.
The properties are located in Gloucester, Nailsworth, Stockport and Worthing.
The properties are fully let producing a total income of £442,386 per annum. Tenants include Co-op, Tesco, Lloyds Pharmacy, Costcutter and Ladbrokes.
The portfolio was purchased for £4,590,000 reflecting a net initial yield of 9.11%, after costs of purchase of 5.80%. Property Alliance Group represented the administrators Duff and Phelps.