Helix, on behalf of Derby Property Investments Limited has sold the freehold interest in 20/22 Cheapside, in Barnsley S70 1RR, to a private investor for £1.71 million, reflecting a net initial yield of 11.6%.
The prime retail unit comprises ground-floor sales accommodation, totalling 3,969 sq ft (369 sq m), and 3,537 sq ft (329 sq m) of further retail space on the first floor. Let in its entirety to Top Shop / Top Man Properties, on a 10-year lease from 2010, the property provides an annual rental income of £210,000.
Fineman Ross advised Helix and the purchaser was represented by Nightingale Partners.
Helix, on behalf of Derby Property Investments Limited has also sold the freehold interest in 73 Deansgate and 23 Oxford Street, in Bolton BL1 1HQ, to a private investor for £1.35 million, reflecting a net initial yield of 12.6%.
The prominent corner unit totals 10,361 sq ft (963 sq m), with retail space on the ground and first floors and offices on the second and third floors. The property is let in its entirety to Nationwide Building Society on a 25-year lease, with 5 years’ unexpired, providing an annual rental income of £180,000.
Fineman Ross advised Helix and the purchaser was advised by Dunitz & Co.
