1238 – 1242 LONDON ROAD, ALVASTON

Investment News

FHP are pleased to announce the completion of the letting of Unit B London Road, Alvaston and the simultaneous sale of the created investment, following the sale earlier in the year of the investment created at Unit A.

The majority of the property is now let to White Cross Vets Limited t/a Pesco Limited.  White Cross Vets have been in occupation of Unit A for five years who are trading successfully and wish to expand.

As such terms were agreed for the letting of Unit B totalling approximately 3,000ft².

Earlier in the year Unit A which produces an income of £34,600 per annum was sold for a sum of £370,000 to show a yield of just under 9%. 

The purchasers were BNP Estates and following those negotiations terms were agreed for the purchase of Unit B for a figure of £175,000. 

It should be noted that there was a substantial rent free period granted in respect of the letting together with various works of repair which were required as part of the overall transaction.  The overall yield to the purchasers was circa 9.5%.

BNP Estates Limited, who are based in Leicester, were well represented by Naresh Patel of Spencers Druce.

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