News
Johnson Tucker LLP acquires Countrywide Investment in the centre of Tynemouth
ACQUIRED BY JT IN Q3 2016!
Johnson Tucker LLP successfully acquired this retail investment in Q3 2016 for a private investor client.
The property is prominently located in the centre of Tynemouth, an affluent and very popular coastal location in North Tyneside, close to Kings Priory High School, Tynemouth Metro Station and a mixture of local and national retailers and leisure operators including Subway, Jan Forster, Boots, Brannen & Partners, Lloyds Bank, Handelsbanken and a Co-op Convenience Store, among others.
The property comprises a ground floor retail unit of approximately 267 sq ft with basement storage and separate WC. The premises are securely let to Countrywide Estate Agents (t/a Bridgfords) on a new 10 year term. Countrywide have a turnover of £353,000,000 and net assets in excess of £140,000,000.
The property was purchased for a value reflecting a net initial yield of approximately 7.15% after allowing for purchasers costs.
If you would like more information or would like to acquire similar investment opportunities please contact Daniel on 0191 269 7897 or danielc@johnsontucker.co.uk
