Hartnell Taylor Cook - Boston, 25 / 26b Market Place

Date: 17 Feb 2004

REIT has sold the freehold interest in 25 / 26b Market Place, Boston for in excess of £2.76 million to a private property investor.

This prominent retail unit is let to Boots the Chemists on a 25-year lease from June 1998 at a passing rental of £177,500 per annum (subject to review). The 31,500 sq ft includes a small retail unit sub-let to Imperial Cancer and second floor offices. Nearby retailers include Marks & Spencer.

Jonathan Gilbert of acquiring agents, Hartnell Taylor Cook said: “The investment proved attractive due to the discounted rent and the growing confidence in Boston as a retail destination, especially following the opening later this year of the Centros Miller retail development, Pescod Square, which is substantially prelet.”

Lee Baron advised the vendors, REIT and Hartnell Taylor Cook advised the purchasers.

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