Acting on behalf of their retained clients, Hillary’s Properties, FHP have announced the completion of the purchase of Units 1, 2, 4 & 5 Central Court, Finch Close, Nottingham, NG7 2NN. The property consists of 4 self-contained good quality industrial units erected by the Vendors approximately 35 years ago. In the past it also included Unit 3, but that has been sold off.
Innes England acted on behalf of the Vendor, J Jelley and Son Limited, in relation to the sale of the long leasehold interest at a figure of £1,925,000. The purchase price shows an initial yield of 7.38%.
Noel Roper of FHP Property Consultants commented; “We had been briefed by Hillary’s Properties to find further industrial investments and as a result of those negotiations we were able to agree terms with Innes England for the acquisition of this leasehold interest”.
Peter Doleman of Innes England commented; “The site generated significant interest when we brought it to the market, in view of the strength of the sector and we are now delighted to have completed the sale to Hillary’s Properties”.
FHP are retained by Hillary’s Properties to manage this property and will be implementing outstanding lease renewals on two of the units.