TWO retail units on Winchester's High Street have been bought by a property investment company for £3.7m. 

Custodian REIT, which is based in Leicester, has bought retail units let to Nationwide Building Society and Hobbs. 

The purchase covers 5,228 sq ft and was funded through existing debt facilities, according to the firm.

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A spokesman for the company described Winchester as a "vibrant" shopping location, with nearby occupiers being Marks & Spencer, Boots, Halifax Bank and Superdrug.

They said: "The tenants’ leases expire in April 2028 and December 2031 respectively at an aggregate current passing rent of £249,200 per annum, reflecting a net initial yield of 6.4 per cent."

They said the initial yield is calculated by passing rent divided by purchase price plus assumed purchasers’ costs.

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