Retail Investment Sold in Ferndown

Retail Investment Sold in Ferndown
Acting on behalf of a local investor Willis Commercial are pleased to have sold 352 Ringwood Road, which comprises ground floor shop of 1,756 sq ft (163 sq m) and is let to Home Alchemy Limited on an effectively full repairing and insuring lease for a term of 5 years commencing 22nd May 2015, at a passing rent of £11,500 per annum, exclusive.

There are two residential flats above, which have both been sold off by way of 125 year leases at a ground rent of £200 per annum each. Therefore the property generates a total income of £11,900 per annum, exclusive, and was guided at an asking price of £145,000 plus VAT, which reflects a net initial yield of 8.06% after usual purchaser’s costs of 1.8%.