Fawcett Mead are delighted to have advised Glenstone REIT on the acquisition of a prominent retail warehouse investment, on Bristol Road, Bridgewater.
The subject property is let entirely to Matalan on a new 10 year lease from December 2020.
The purchase price of £2.84m reflected a NIY of 7.50%.
Richard Bashford commented "This retail warehouse investment occupies a prominent, corner site, on the main arterial route between the M5 and Bridgewater town centre. It is let off a very low passing rent of £9psf and has excellent underlying value for alternative uses."
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