AXA Sun Life has sold 221-225 Grange Street in Birkenhead, Merseyside, to Napier Brown Holdings for £2.4m – a 6.6% net initial yield.
The 22,075 sq ft three-storey shop, has a ground-floor sales area of 7,600 sq ft, and is let to Iceland Foods on a lease expiring in 2024. The property produces £175,000 pa.
Kitchen La Frenais Morgan advised AXA Sun Life; Smith Price advised the Napier Brown.
annabel.dixon@estatesgazette.com
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