Units 16 & 17, Eturia Retail & Trade Park, Newcastle under Lyme, ST4 6JQ
Acting on behalf of Hansteen, Franck-Steier Price has concluded the sale of this leisure & retail warehouse investment at the front of the Etruria Retail & Trade Park in Newcastle under Lyme, just off the A500.
The two units were let to Pure Gym and Carpetright (sub let to Dreams). The WAULT was 13.6 years to expiry and 11.1 years to break. The combined rent was £381,425 per annum.
The purchaser was a Kames Capital, who paid a price of £4,000,000, reflecting a net initial yield of 9%. Savills acted for the purchaser.