Property overview

86 Northbrook Street, Newbury, RG14 1AE

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Sep 2016

Acting on behalf of a private charity client, Franck-Steier Price Ltd (FSP) has acquired a single let retail investment in the prime retail pitch in Newbury.

The property comprises a ground floor retail unit let to Caffe Nero and two separate upper floors of 3,367 sqft which are vacant.

The ground floor is let to Nero Holdings Ltd on a 10 year lease from May 2013. The passing rent is £65,000 per annum.

The investment was purchased for £1,250,000, reflecting a net initial yield of 4.91%. Fawcett Mead acted for the vendor.