On behalf of an institutional client Green & Partners sold 17-23 Chequer Street, a high street retail parade in St Albans.
17-23 Chequer Street is prominently and centrally located between both the Maltings Shopping Centre and Christopher Place and opposite Fat Face and Joules. The subject property is well secured to strong national covenants of Nandos and Toni & Guy with a weighted average unexpired lease term of 8 years. Both retailers are let on FRI leases with upcoming rent reviews and with sufficient transactional evidence on the pitch, there is a real opportunity to improve the performance of the asset.
Green & Partners achieved a price of £2,725,000 which reflects a NIY of 4.83%, 67bps above asking.
For more information please get in touch with Simona Malinova or Patrick Over.