News

Optical Express Investment in Darlington Acquired by Johnson Tucker

The property is situated within the core prime pedestrianised section of the town centre on High Row. Occupiers within the surrounding pitch include Waterstones, Boots, Poundland, the major High St banks, Vodafone and Costa.

The property comprises a three storey double fronted building  entirely let to Optical Express Limited on a 10 year full repairing and
insuring lease from 1st January 2013, expiring on 31st December 2022, at a rent of £27,500 per annum. Optical Express operate from over 100 shops across the UK, providing a full range of eyecare services and recently reported turnover in excess of £86m.

Johnson Tucker purchased the property for a local property company in November 2018 for £290,000, reflecting an attractive net initial yield of 9.19%, assuming purchasers costs of 3.18%.

If you would like more information on this investment acquisition or any other investments listed on our website please contact Daniel Capobasso on 0191 269 7897 or email danielc@johnsontucker.co.uk. Please feel free to subscribe to our investment property mailing list to receive the latest investment opportunities.