Darley Street Properties, advised by Hartnell Taylor Cook, has acquired a freehold investment located on Orchard Road, Royston for £4.825m.
The property, a multi-let mixed use freehold investment totalling 38,785 sq ft on a site area of 1.62 acres, is located to the north of the town centre in a mainly residential district positioned adjacent to the railway station.
The investment generates an annual income of £321,484 per annum with 6.5 years to expiry of the leases. The occupiers include such notable names as Johnson Matthey, Kwik Fit and The Original Factory Shop.
Jonathan Gilbert of acquiring agents, Hartnell Taylor Cook said: “This is a very attractive investment because not only does it offers a secure income in the short to medium term it provides loads of potential of further development for the future. Royston is located in the flourishing Oxbridge corridor attracting new businesses to the region and yet the site also offers the potential for residential development.”
Hartnell Taylor Cook advised the purchaser, Darley Street Properties LLP and Bidwells represented the vendor Pidgeon East of England Property.