Co-op, Former Barley Mow, 103 Buddle Lane, Exeter, EX4 1QT
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£875,000
Jul 2013
Franck-Steier Price Ltd (FSP) has recently completed the acquisition of a convenience store investment for a private client.
The Exeter property is let to Southern Co-operative Ltd on a new 15 year lease from 28 March 2013. The current passing rent is £62,500 per annum, there are 5 yearly RPI reviews with a collar/cap of 1-4%.
The property was purchased for a price of £875,000 which reflected a net initial yield of 6.75%, assuming purchaser’s costs of 5.8%. The vendor was unrepresented.
