Property overview

Wymans Lane, Kingsditch, Cheltenham, GL51 9NE

sold

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£2,772,000
Dec 2014

Franck-Steier Price has recently concluded the sale of a prominent mixed trade and leisure investment in the Kingsditch area of Cheltenham.

The property was predominantly let to Simply Gym and Topps Tiles and had a WAULT of 8.7 years to expiries and 5.5 years to breaks. The property also had a 0.6 acre potential development site.

The property extended to 55,510 sqft overall and offered a variety of asset management and development opportunities. The total passing rent was £259,950 per annum.

A private property company paid £2,772,000, reflecting an initial yield of 8.86%% and a short term reversionary yield to 8.15% on expiry of one of the short term leases.