Retail and residential investment sale - A GOOD BET

Acting on behalf of a private investment consortium, Pullen Associates have sold a retail and residential investment producing a total rental income of £16,940 pa to a London based private investor.   The property is situated in a main High Street location in the popular New Forest town of Fordingbridge.

One shop is let to Coral Racing Ltd on a 10 year lease from December 2011 (subject to a 5 year break clause).   Richard Pullen, Director of Pullen Associates, says that 'The freehold was offered for sale with a price guide of £220,000. 

There was a reasonable level of interest in the investment reflecting the fact that a number of investors have cash in the bank earning low returns and this property provided an opportunity to obtain a higher return with the income spread between three tenants and therefore provided a better security of income to a buyer'.