Tesco Express, 62-64 Long Row, Nottingham, NG1 6JE
Franck Steier Price has recently completed the sale of a city centre convenience store in central Nottingham on behalf of M7.
The property comprised a ground floor retail unit on Long Row which formed part of a larger mixed use property.
The property was let to Tesco until 2023 and had a passing rent of £105,320 per annum. A 999 year long leasehold interest was sold with a fixed ground rent of £100 per annum.
The investment sold for £1,450,000 which reflected a net initial yield of 6.84%.
The property was purchased by a private client of NG Chartered Surveyors.