Sainsburys Local, 7/7A Heatheridge Road & 17-18 Cumberland Road, Camberley, GU15 1AX
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£1,400,000
Dec 2015
Franck-Steier Price Ltd (FSP) has recently acquired, on behalf of Evolve Estates, a Sainsburys retail investment in Camberley.
The Sainsburys forms part of a residential suburban parade and was purchase off a private trust.
The ground floor retail unit is let to Sainsburys on a 15 year lease from April 2005 at £65,000 per annum. Above are four residential flats, all let on AST’s, producing a further £30,000 per annum.
The property was purchased for £1,400,000 which represents a net initial yield of 6.41%, assuming full costs of purchase of 5.8%.
