Strong demand sees Bournemouth bank sold within a week

Acting on behalf of a private individual, Goadsby have sold the NatWest Bank investment at Heron House, Christchurch Road, Bournemouth to Topland Group Ltd.  The premises extend to approximately 7,912 sq ft over ground and basement floors and are let to National Westminster Bank Plc until 2075. The quoting price was £1.525 million and the current passing rent is £74,000 per annum.

Tom Chapman, Manager of Investment Consultancy commented, “We received a strong amount of interest from the start of marketing and within a week had the property under offer at the quoting price.  We subsequently exchanged within 7 days thereafter.  With NatWest on the lease for another 60 years it is a very well secured investment hence why we achieved a net initial yield of 4.58%”.