Acting on behalf of a private client, Brackenridge Hanson Tate identified and successfully negotiated the acquisition of two prime retail units that were let to 02 and Pandora. Both units were let off rebased rents and produced a total rent of £100,000 pa. The property was acquired for £1,365,000 equating to a net initial yield of 6.91%.
Jonathan Peasgood of Peasgood Associates acted for the vendor. Brackenridge Hanson Tate recently advised Skipton Building Society on their new premises also on Cambridge Street. Jonathan Wade commented; “ there are compelling reasons to acquire prime retail investments in strong towns such as Harrogate where the rents have been rebased. We are advising on other acquisitions and also have a number of investment sales in this sector”.