Investor demand for commercial properties in the growing market towns around the Cambridge conurbation remains, according to Barker Storey Matthews – now part of Eddisons.
This assertion follows the agent’s confirmation of the sale of the freehold of a retail unit in the Essex market town of Saffron Walden to a private investor in which it acted as the sole agent on behalf of the vendor.
Number 37-39 King Street is in the centre of Saffron Walden and is a retail unit occupied, with a current lease, by St Elizabeth’s charity. The property investment offered for sale included ground rent from a first floor flat sold by way of a long leasehold several years ago.
While the identity of the new owner remains confidential, the freehold sold for £470,000, reflecting a net yield of 8.87 per cent.
Commenting on the investment sale, Ben Green of Barker Storey Matthews’ Cambridge office, said, “Retail trading fortunes have been weakening across the piece. However there is still investor appetite for the right property in the right location.
“Saffron Walden is an affluent and expanding market town with a thriving independent retail and leisure offer. It is just this sort of market town that continues to attract investors in retail.”