48 Upper Parliament Street Sold by FHP

Investment News

Alan Pearson, Associate Partner at Fisher Hargreaves Proctor has sold 48 Upper Parliament Street, Nottingham on behalf of private clients for £470,000.  This represents a net initial yield of 5.62%.  The premises comprised of a ground floor and basement retail unit let to Age Concern by way of a new 10 year lease from October 2005, at £23,500 per annum exclusive.  The second floor office suite was let on a 2 year lease from October 2005 at £4,160 per annum

Alan Pearson of FHP commented, “Due to the relatively small lot size for the investment, there was considerable interest shown by private investors for their pension funds.  I undertook several viewings at the property and due to the strong interest I was able to proceed to best and final bids within 6 weeks of going to the market, with the eventual sale being agreed at £470,000.”

Fisher Hargreaves Proctor have been involved in a number of transactions on Upper Parliament Street in recent months and are currently marketing the freehold investment of 14/18 Upper Parliament Street, which is let to Haart Estate Agents and Cookieshake, by way of new 10 and 15 year leases respectively.  The property is available at £1,500,000, representing a net initial yield of 5.5%. 

For further information or advice please do not hesitate to contact the FHP Retail & Leisure Team on 0115 950 7577.