Coral Investment Sold for 4.7% NIY
With the residential element of this mixed use development nearing completion, the developer sought to take advantage of the recent interest rate cut and free up funds by disposing of the commercial unit on a 999 year lease.
Coral have a 15 year straight term over the ground floor from September 2014 and pay £80,000 per annum, a lease which Kingsbury negotiated on behalf of the previous owners.
We brought the Coral investment to the open market in Summer this year and soon after agreed terms with a family trust, subsequently selling for £1.55m which reflects a net initial yield of 4.7%; which is, we understand, lower than and yields achieved for a Coral investment in auction sales across Greater London.
Kingsbury’s investment agency team provide a dynamic approach to disposals, where the aim is to maximise value and exchange contracts within 20 days from instruction. If you own an investment opportunity, please contact Jordan Oldfield on 020 7183 2529 or firstname.lastname@example.org for initial advice.
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