DTZIM has sold 47-50 Fore Street in Taunton to CBRE Global Investors.
The prime freehold retail store comprises approximately 17,500 sq ft in total over ground and first floors. The property is leased to WH Smiths on a recently regeared 10 year term at a rent of £200,000 per annum.
Following a comprehensive marketing campaign and receiving a number of bids, CBRE Global Investors secured the freehold for £2.9 million. The purchase price reflects an initial yield of 6.50% allowing for the usual purchase costs.
DTZ represented DTZIM whilst HPfour acted on behalf of CBRE Global Investors.
