The investment department have agreed two more disposals on behalf of F&C REIT Asset Management. The properties, in Winchester and Harrogate, were sold for a combined sum of £5,935,000 and blended net initial yield of 5.69%. The transactions were agreed with two different private investors. Both were represented by investment agencies.

 

The Winchester property (pictured) occupied a prime position on the High Street. It is let to Game and Alliance & Leicester for a further 10 years and 5 years respectively. The shop comprised some 5,000 sq ft sales area with 1,400 sq ft of ancillary space. In addition, the property contained six residential flats in the upper parts which are sub-let to a local housing association until 2014.

 

The shop in Harrogate was also in a prime location, situated on Cambridge Street. The property is let to Clinton Cards, until February 2018, and comprises some 1,500 sq ft of ground floor sales space with 1,800 sq ft of ancillary storage on ground, first and second floors.