21 February 2017
Goadsby Commercial are delighted to report the successful disposal of 1 Leith Avenue, Portchester, a well secured convenience store investment let to One Stop Stores Limited.
The investment comprises a prominent retail unit of 3,065 sq ft located in the affluent town of Fareham. With adjoining national retailers including Co-op and Ladbrokes and a 15 year lease from March 2014, this commercial investment presents a unique long-term secure investment for the purchaser.
One Stop are part of the Tesco plc Group and have over 600 stores across the UK. This commercial investment has been purchased by a private investor, demonstrating continued demand for commercial investments with a good term certain.
Allan Pickering. Head of Goadsby's Hampshire Investment team comments, 'We have seen continued demand for freehold investments across Hampshire with lot sizes up to £1.5m, particularly for private investors. We were delighted to act on behalf of the vendor for the successful disposal of this investment. With a net initial yield in the region of 7.5% and the long lease to One Stop Stores this investment is a good acquisition for the purchaser'.
With continued demand in the market we would be pleased to hear from landlords and investors considering their commercial property options. Please contact the Goadsby Commercial Team on 01962 869667, who would be pleased to provide confidential advice.