232 / 256 High Street, Cheltenham
Acting on behalf of our client Acaster LLP we acquired this parade of 8 shops at £5.6m.
We were involved in the active investment management, negotiating three surrenders to allow the creation of larger units, which were in demand by value retailers.
These investments were let to Peacocks and Poundland at new market rentals and sold post 2008 for £4.57m showing investors between 6% and 7% initial.
Our clients retain other retail units and the substantial car park as investments, the latter being likely to form part of a future development.