Catella - Retail - Hornchurch, Elm Parade

Date: 07 Apr 2000

A private investor, advised by Catella, has sold in conjunction with Allsops at a recent auction the freehold investment of the shop and upper floors at 1/2A Elm Parade, Hornchurch, Essex to a private company for £181,000. The sale shows a net initial yield of just below 8.75%.

The property consists of a ground floor shop and two self-contained flats above. It is let on a 14 year lease from September 1990. The current rent is £16,250 per annum with a rent review in September 2000.

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