Elmbridge borough council has bought 26-38a High Street in Cobham, Surrey, for £6.5m.
The price paid to property investment fund Cubemaker for the two self-contained blocks reflects a 6% net initial yield. The property also includes garages, to the rear of the parade, that provide a potential residential development opportunity.
Tenants include Costa Coffee and Crew Clothing.
Cubemaker was set up by Cube Real Estate and is a £100m UK-centred opportunistic property fund targeted at producing above-average total returns through strategic buying, active asset management and planned exits.
Strutt & Parker acted for the council; Jackson Criss advised the vendor.
joanna.bourke@estatesgazette.com
