Strong investment for Banks Long and Co – home and away

Activity levels for commercial property investments are reaching pre-recession levels claims Lincoln-based Chartered Surveyors Banks Long and Co, which is busy doing deals both locally and nationally.

Banks Long and Co Director Tim Bradford says that he has never been busier, as clients seek to invest in commercial property to take advantage of the strengthening economy and to enjoy net yields, which compare favourably to bank deposits and investing on the stock market.

Recent transactions completed by the Lincoln company include the sale of a retail property let to Tesco Express in Hayes, Middlesex for a price reflecting a net initial yield of 5.63 per cent. The property, located on the busy Uxbridge Road, has ten-and-a-half years of the lease to the national supermarket chain left to run.

A little closer to home, Banks Long and Co has acquired for private clients, 294/295 High Street, Lincoln – which is let to Joules, Warren James Jewellers and office tenants who occupy the upper floors. This purchase reflects a net initial yield of 8.85 per cent.

Mr Bradford said: “Whilst we operate on a national basis in commercial property investment, it is always refreshing to buy excellent quality product for retained clients in our home city.

294/295 High Street is located just a few metres from the 100 per cent prime pitch in Lincoln where prime yields are around five per cent. In fact the new River Island has just sold for 4.5 per cent.

“As a business Banks Long and Co buys and sells commercial property investments across the UK. I have bought properties for clients as far afield as Edinburgh in the north, Somerset and Cornwall in the south west and a large number which are based around the London boroughs.

“We have a small number of retained clients with whom we work closely, to ensure that we identify the type of property investment that each individual is searching for,” added Mr Bradford.