TWO Winchester city centre shop buildings have been sold for more than £5 million.
BMO Real Estate Partners has completed the purchase of a prime retail investment on the High Street.
The shops are currently let to Mint Velvet for nine years and Specsavers for six years, offering secure income against two well-regarded high street multiple retailers.
The rent of £266,000 per annum and rents continue to grow in Winchester amongst low vacancy rates and strong occupational demand.
Guy Glover, fund manager at BMO Real Estate Partners, said: “These assets, which offer secure income in prime locations, are an excellent investment. We’re delighted to have secured both and look forward to sourcing more opportunities in the future.”
Agents CWM were engaged and Andrew McDonald of CWM added: “This is an excellent deal in a top-tier investment city and demonstrates continued confidence in prime high street locations throughout the UK.”
The vendor was represented by Leslie Perkins Chartered Surveyors.
BMO Real Estate Partners manages a global property portfolio estimated at £7.1billion on behalf of a wide range of individuals, professional investors, property trusts and institutional clients.
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