MAA - Property Consultants


	( e.g. Retail properties )

News

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July 2010 - Freehold Convenience Store Investment Acquisition

Acting on behalf of private investor clients, we have recently completed the acquisition of a convenience store investment at 115 Hirst Gate, Mexborough at a figure of £382,000 reflecting a net initial yield of 6.25%. The property, which extends to a ground floor sales area of 1,736 sq ft together with 1,915 sq ft of ancillary accommodation, is let to Martin McColl Ltd for 20 years, without break, from May 2010 at a current rent of £25,000 pa. The lease includes full repairing and insuring covenants and upward only reviews five yearly based upon 2% per annum compound.

June 2010 - Freehold Driving Test Centre Investment Disposal

Acting on behalf of retained property company clients, we have recently completed the disposal of a motorcycle and driving test centre investment at Port Road, Carlisle at a figure of £1.98m reflecting a net initial yield of 5.25%. The property, which comprises a 2.66 acre site with small office, is let to The Secretary of State for Communities and Local Government for a term of 40 years from September 2008 at a commencing rental of £110,000 pa. The lease provides for upward only reviews at every fifth year of the term in line with RPI, and a tenant's break option in the 25th year.

April 2010 - Retail Letting

Acting on behalf of clients, we have recently completed a letting of 7 Pump Street, Worcester to Keson Handicrafts Ltd for a term of 2 years from April 2010 at an annual rental of £15,000.

March 2010 - Freehold Retail and Residential Investment Acquisition

Acting on behalf of retained institutional clients we have recently completed the acquisition of a retail and residential investment at 1 Barnards Parade, Stonehouse, Gloucestershire at a figure of £280,000 reflecting a net initial yield of 7.7%. The property, which extends to a sales area of 1,984 sq ft, is let to Ladbrokes Ltd for a term of 10 years from 17th January 2005 at a current rent of £16,500 pa. There is an independently accessed 3 bed flat on the first floor which is let on an Assured Shorthold tenancy at a rent of £500 pcm.

March 2010 - Retail Letting

Acting on behalf of clients, we have recently completed a new letting of 32 The Shambles, Worcester to Simply Gifted International Ltd for a term of 5 years from March 2010 at a rental of £30,000 pa equating to a rate of £60.70 ZA.

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