DTZ Investors, advised by Bruce Gillingham Pollard, have acquired the freehold interest of 40-44 Foregate Street, Chester from Aviva Investors for £9,300,000 reflecting a net initial yield of 5.00%.
The entire investment is let to Waitrose Ltd, Claire’s Accessories Ltd and The Body Shop International Plc at a total current rent of £487,500 per annum.
Located within the extensive and affluent catchment of Chester, this was a rare opportunity to purchase three prime retail units on the prime pitch of the historic cathedral city.
The subject property is also ideally located to benefit from the positive impact of tenant outflow from the City’s shopping centre in order to be represented on the high street.
Harry Wills who heads up Bruce Gillingham Pollard’s Investment team said: “We are delighted to have helped secure this high profile purchase for DTZ Investors. Being able to advise clients with the knowledge, insight and passion from our highly experienced leasing team offers a major advantage to our clients. This latest achievement further cements the importance of what we believe is a unique and valuable service we are offering to the retail and leisure investment sector.”
Aviva Investors were advised by HP Four.
