Helix Property Advisors, on behalf of Harmsworth Pension Funds Trustees Limited, has sold the freehold interest in Matalan Retail, Southtown Road, Great Yarmouth, Norfolk to Helical Bar for £4.75 million, reflecting a net initial yield of 7.75%.
The property, comprising a 38,771 sq ft (3,602 sq m) retail warehouse on a 2.9 acre (1.17 hectare) site, is let to Matalan Retail Limited on a 15 year lease from December 2011 at a current annual rent of £389,468, with five-yearly rent reviews.
Fineman Ross advised Helix Property Advisors and Wilkinson Williams acted for Helical Bar.
