Retail

22-28 Fitzroy Street, Cambridge 

 

Price: £3,520,000 - Initial Yield:6.00%

Date: Q3 2011

Acting on behalf of Fitzroy Street Properties we advised on the sale of this long leasehold retail investment to TIAA Henderson Real Estate for £3.52m, reflecting a net initial yield of 6.00%.

The property is prominently located in a prime position in the pedestrianised Fitzroy Street, which links the 450,000 sq ft Grafton Centre to the historic city centre. The investment comprises three well-configured modern retail units providing ground floor sales, with a combination of first floor retail, storage and staff accommodation. The properties are let on FR&I terms to national multiple retailers with an average weighted unexpired term of 7.8 years and are well secured to Tui UK Ltd, Everything Everywhere Ltd and Nero Holdings Ltd (trading as Thomson, Orange and Caffé Nero respectively) at a total passing rent of £223,500 p.a. 

Contact

Jeff Ellis

Tel: 020 7493 3330
Mob: 07775 582 719
jellis@lewisellis.co.uk

John Ellison

Tel: 020 7493 3330
Mob: 07889 437 236
jellison@lewisellis.co.uk


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