Goadsby - Winchester

Date: 05 Jan 2009

Goadsby have sold a freehold retail investment at 80/81 High Street Winchester, on behalf of Winchester Land PLC.

The property has been sold to Phillips & Son (Alton) Ltd represented by Glanfield Holmlund close to the asking price of £1.325m.

Richard Pullen, Director of Investments at Goadsby, said "the property is let until 2011 at £105,450 pa and is arranged as 4 shop units together with 7 upper floor flats, the latter of which have been sold on long leases. The shops are located in a prominent position of The High Street close to the world renowned Law Courts and The Castle, the home of Hampshire County Council. The sale reflects a net initial yield close to 7.5 %."

Richard Pullen said "The property had been in the same ownership for over 20 years having been refurbished and converted in the late 1980's as part of the redevelopment of this important area of the City." Acting for the purchaser, Chris Glanfield of Glanfield Holmlund said "the purchase of this investment provides some active management opportunities for the purchaser with some of the retail tenants having been in occupation since 1986 and with the leases due to expire in a few years time. Tenants include Long Tall Sally and Countrywide PLC"

High Street Winchester

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