Acting on behalf of a wealth management client Fairlie Norbury Real Estate has acquired a freehold retail investment situated at 31-33 High Street Chippenham. The recently refurbished building is let to two tenants, Tesco stores on a 15 year lease at an annual rent of £177,000 subject to 5 yearly rent reviews linked to CPI collared and capped at 2%/4% compounded, and Starbucks on a 10 year lease (break at year 5) at an annual rent of £40,000 subject to 5 yearly rent reviews linked to CPI collared and capped at 1%/3% compounded.
The investment was acquired for £3.355m a NIY of 6%
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