Investing in the high street

Fenn Wright secured the purchase of 17 – 21 White Lion Street, Norwich, in a deal that delivers an initial yield in excess of 8.25%.

Lewis explains: “Currently let to Hughes Electrical and Holland & Barrett, the property generates annual rental income of £167,000, with a minimum term of 9 years on the leases.

“The property is in a very prominent position next to the Castle Meadows Shopping Centre, with heavy foot-fall shops such as Greggs, Specsavers, Primark and Ladbrokes nearby.

“The acquisition price we achieved for our client reflects excellent value at a time when the market trend is showing a hardening of yields for well let investments such as this”.

To discuss this topic please get in touch with Lewis Chambers.  Or read more about Fenn Wright’s acquisition services here.