Hartnell Taylor Cook LLP, acting on behalf of C A Pilgrim Properties Limited, has sold the freehold interest of Coypool Retail Park, Marsh Mills, Plymouth to Triple Jersey Limited for £3,800,000.
The property comprises 3 retail units forming part of Coypool Retail Park, let to Harveys Furnishing Group Limited for 25 years from 1998 with 5 yearly rent reviews, and Furniture World Limited for 10 years from May 2010. The total rental income for all 3 units combined is £379,000, and the price reflects a net initial yield of 9.4%.
Hartnell Taylor Cook LLP advised the vendors, C A Pilgrim Properties Limited and DBA LLP advised the purchasers.