Commercial property deal for £1.8m (From Hampshire Chronicle)

Commercial property deal for £1.8m

4:31pm Friday 8th August 2008 in Hampshire Business

ACTING on behalf of a private investor Goadsby has sold an office and retail investment, Jewry House, 12/13 Jewry St Winchester for £1.8m.

Richard Pullen, Director of Investments at Goadsby, said "the property is located in the heart of the business district of the city where there are a number of important office buildings.

"Jewry Street is also an important retail location close to the High Street, popular with restaurants, estate agents and a variety of retailers."

The Victorian property was extended in the 1980s and comprises 6,684 sq ft of offices with parking together with a separate ground floor shop unit.

Richard Pullen said: "The whole property is let to Wessex Administration Services Ltd at £122,725 pa until June 2012 without further rent review with the shop being underlet to John Lewis of Hungerford Plc.

"The sale confirms that there continues to be demand for good quality commercial investment properties in this more difficult economic market with the sale price reflecting a net initial yield of approximately 6.4 per cent"

For further information on the availability of similar properties contact Richard Pullen at Goadsby on 02380 227337 richard.pullen@goadsby.com