01785 244400

STAFFORD DEAL ANNOUNCEMENT

J Leon and Company Limited has completed the sale of the company's freehold retail and office investment property at 38/38a Gaolgate Street and 28/29 Salter Street, Stafford. Providing two retail units fronting Gaolgate Street let to Costa Coffee and Vodafone with three upper floor office suites accessed from Salter Street, one of which is currently vacant, this prime located four-storey building produces an income of £123,450 per annum with a reversionary estimated rental value of £145,400 a year. Offers in excess of £2.12M were invited and the property was sold at £2.2M reflecting a yield of 5.3%. Millar Sandy and the London office of Savills jointly marketed the building, which has been purchased by Central Provincial Properties Limited, represented by GBR Property Consultants of Birmingham.