Following the purchase of a Nationwide Granular Retail Portfolio on behalf of Maple Holdings (see news article 27/09) the first 2 properties have been sold to a private SIPP being The Mill Road Group.
The properties were Freeholds at 44- 45 High Street, Dudley let to the Co-Op Travel and 1 Horsefair, Pontefract let to the YMCA.
Combined income was £57,500 for leases both expiring in 2024.
The sale price was £705,000 reflecting a NIY of 7.75%.
Is the retail investment market dead – we don’t believe so!
Red Kite asset managed these properties on behalf of Maple Holdings with Mark Sachon of Gatehouse.