Wymans Lane, Kingsditch, Cheltenham, GL51 9NE
Franck-Steier Price Ltd (FSP) has recently concluded the sale of a prominent mixed trade and leisure investment in the Kingsditch area of Cheltenham.
The property was predominantly let to Simply Gym and Topps Tiles and had a WAULT of 8.7 years to expiries and 5.5 years to breaks. The property also had a 0.6 acre potential development site.
The property extended to 55,510 sqft overall and offered a variety of asset management and development opportunities. The total passing rent was £259,950 per annum.
A private property company paid £2,772,000, reflecting an initial yield of 8.86%% and a short term reversionary yield to 8.15% on expiry of one of the short term leases.