On behalf of retained clients, Graham Bancroft, Partner at BB&J Commercial has acquired the freehold investment of 14-16 St John’s Street, Ashbourne.
The purchase of the multi-let investment is one of a series of large-scale investments made by the new owners over the last twelve months and also adds to their existing portfolio of properties across Derbyshire.
The property comprises two retail units, four flats and a storage unit all of which were fully let at the time of the purchase with tenants including strong national covenants including Costa Coffee and British Heart Foundation.
Graham Bancroft said “The acquisition of this investment on behalf of my clients shows their belief in the continuing success of the town of Ashbourne. The strong covenant strength of the two main tenants, Costa Coffee and British Heart Foundation were very appealing to my client as well as the unexpired lease terms.”
“The property wasn’t on the open market but I was able to use our extensive contact base to source the investment and on behalf of my client I was quickly able to negotiate an agreeable deal. The purchase price and the current rental levels received gave my client a very healthy investment yield.”
“The future of Ashbourne at the minute is extremely exciting with various developments planned for the future across the town and my client and I believe that this prime position within the heart of Ashbourne will continue to flourish. There are very few retail units available in the town centre which shows the popularity of the area and there have been numerous larger brands open over recent years which have helped boost popularity. The purchase of this investment adds to their portfolio within the local area and shows their commitment and confidence in the town.”
For further information on how BB&J Commercial could act on your behalf to acquire property please contact us on 01332 292825 or commercial@bbandj.co.uk
