Evolve Estates has purchased the freehold interest in the Norton Mills Local Centre in Norton Fitzwarren, Taunton for £3.12 million from Quorum Properties. The deal reflects a net initial yield of 7%.
The 16,558 sq ft (1,538.29 sq m) scheme comprises five retail units, let to Co-Op, Barnados, CVS UK and two local independents, plus a medical centre and five residential flats. The property has a current rental income of £238,630.
GCW advised the seller and CWM advised Evolve Estates.
