Colchester: 27 High Street & Culver Street West

August 2021

-New lease to Lloyds Bank PLC at a rebased rent
-Passing Rent: £200,000
-Price: £2,720,000
-Net Initial Yield: 6.91%

Acting on behalf of a private vendor, Fawcett Mead are delighted to have sold the freehold interest of this prime bank investment. Bruce Gillingham Pollard acted for an overseas purchaser.

The property is let entirely to Lloyds Bank PLC on a new five lease at a rebased rent until February 2026. The property is situated on High Street - the prime retail thoroughfare and benefits from dual frontage on to Culver Street West.

Graham Fawcett commented "The sale of this property demonstrates that there is a strong demand for well let in-town retail investments. We are delighted to have secured such an attractive exit price for our client."

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