The Charities Property Fund, advised by Savills Fund Management has acquired two investments from a private individual for £7.5 million, reflecting a net initial yield of approximately 7%.
The Charities Property Fund, advised by Savills Fund Management has acquired two investments from a private individual for £7.5 million, reflecting a net initial yield of approximately 7%.
Three retail units at Cambridge Street, Barkers Pool, Sheffield totalling 2,500 sq m (27,000 sq ft) were acquired by the Fund for £3.685 million. The units, let to Spar, JD Wetherspoon and ASK Restaurants for an average unexpired term of 25 years, generate a rent of £270,000 per annum.
In a second deal, the Fund purchased a 4,200 sq m (45,300 sq ft) industrial warehouse unit at Houndmills Industrial Estate, Basingstoke, Hampshire let to Debenhams Properties Ltd on a new 15 year lease, producing a rent of £281,250 per annum.
Holley Blake represented the vendor.