Greggs, 26/28 Marygate, Berwick upon Tweed
Johnson Tucker acquired this securely let retail investment off market in Q3 2012 on behalf of a retained client.
The property is located on the prime pitch of Marygate in Berwick with surrounding retailers including Dorothy Perkins, Superdrug, Cafe Nero and Edinburgh Woolen Mill.
The property extends to 3,497 sq ft and is let on a 10 year lease from May 2012 at a re-based rent.
Douglas Cranston commented, “Investments of this nature tend to be traded off market. They encompass the fundamentals that private investors are keen to acquire; secure income streams, well located retail premises, at re-based rents let to strong covenants at a realistic lo size. Yields can vary between 6.00% to 6.50%, offering a greater return than can be achieved from other investment vehicles and financial institutions whilst still offering security to an investor with the opportunity to own the bricks and mortar at the end of the term. Investments of this nature tend to retain value as they are seen as a safe haven for clients’ money in a difficult property market”.
For further information please contact Andrew Tucker.