Goadsby - Poole, Wimborne Road, Poole

Date: 12 Mar 2010

Yield of 6.1% on sale of store, let long-term to the Co-op.

Goadsby are delighted to announce that they have completed another successful transaction on behalf of Lewis Innovative Investments in purchasing the freehold interest of the above.

The property which was sold by Mr Philip Oram comprised a substantial shop property at ground floor level let to Southern Co-Operatives Ltd on a new 15 year lease (without breaks) at a commencing rental of £60,000 per annum exclusive. The upper floors of the property have been sold on a long lease.

The property was purchased for a figure of £930,000 reflecting a net initial yield of 6.1% (after purchasers costs of 5.7625%).

Alastair Warwick-Smith Director of Investments at Goadsby commented that he was delighted to have secured another good quality investment through their retained client Lewis', at a time when quality investment properties are in very short supply.

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