Altitude Investments, a boutique investment agency, based in the South West and The Midlands, have announced the completion another investment transaction for 2018, advising a private client on the sale of 22 Gower Road, Haywards Heath.
Let to Imperial Chemical Industries Ltd (ICI) trading as a Dulux Decorator Centre for 10 years from March 2016, with a tenants break in 2021, the property provides well specified trade counter accommodation in an excellent location close to the centre of Haywards Heath. From an initial guide of £700,000 a purchase price of £750,000 was achieved after strong interested from numerous parties. The purchase price reflected a net initial yield of 5.38%.
Tom Vantreen of Altitude comments “22 Gower Road is well located, let to a strong covenant and has an excellent reversionary story being under rented and having historically benefitted from a consent for a residential scheme. We weren’t surprised that there was such good interest for an asset of this nature and are delighted to have secured a great result for our client.”
Altitude Investments advise on the acquisition and disposal of commercial property from their offices in Exeter, London & the Midlands, acting for a number of private individuals, property companies and family trusts, as well as undertaking some institutional work. Altitude Asset Management is a sister company to Altitude Investments that offers clients hands on expertise in the development and execution of asset management strategies.
