Morley buys in Newbury

Town centre investment sells off 6.5 per cent yield

Morley Stores, advised by KLM Retail, has acquired the freehold investment of the Wilko store at 13-15 Northbrook Street, Newbury for £4.425 million.

The 37,473 sq ft three storey property has a ground floor sales area of 21,215 sq ft and two floors above of ancillary space. Let to Wilko on a 15-year lease until June 2025 the building commands an annual rent of £295,000 and the purchase reflects a net initial yield of 6.5 per cent.

Situated midway along the part-pedestrianised Northbrook Street, the building is 100 per cent prime in location being located close to Parkway Shopping Centre and Camp Hopson.

Fawcett Mead advised the vendor.

share on:

Leave a Response