Hill Samuel Property Unit Trust has paid £1.87m for a retail investment at 65 High Street, Worcester. The deal reflects a 6.25% initial yield.
The property totals 734 sq m (8,000 sq ft), with three shops on the ground floor and one at first floor level, and with offices above. The building is let to Signet Plc, on a 25-year lease from 1982. The passing rent is £120,000 pa, subject to a review this month. Sub-tenants include K Shoes, Co-op Travel and Three Cooks.
The property was sold by Hearts of Oak which was represented by Gooch & Wagstaff. Hill Samuel Asset Management and Makins Moore & Partners acted for the Trust.
EGi News 13/03/97
