Property overview

22-22a High Street, Stamford

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Jun 2010

Franck-Steier Price Ltd (FSP) has recently completed the purchase of the freehold interest in a prime retail unit on High Street, Stamford, on behalf of a private investor.

The property comprises a Grade II listed prime corner retail unit arranged over ground and three upper floors.

The property is let to Superdrug Stores Plc on a 15 year lease from April 2005 at a rent of £115,000 per annum.

The investment was purchased for £2,010,000 which reflected a net initial yield of 5.41%. The vendor was Monument Group, represented by Douglas Stevens.