Acting on behalf of a private investor we have sold the ground floor and basement investment which is entirely let to Foxtons Limited. The occupational lease is for 20 years from January 2012 subject to a tenant’s break after the 15th year. The initial rent is £115,000 per annum exclusive and a private overseas investor paid in the region of £1.9 million subject to contract for a 999 year lease, reflecting an initial yield of around 5.8% after deduction of normal puchaser’s costs.
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