Acting on behalf of National Friendly, we have been instructed to
market their freehold retail investment at 187-189 High Street and 49-51 North
Street, Exeter. The investment is
situated close to the cathedral and is primarily let to the Yorkshire Building
Society on a new 10 year lease subject to a tenant only break at the fifth
year. Two smaller units and upper parts
let to a dental practice and various office occupiers provide further income. The total current income is £135,000 per
annum exclusive. We are instructed to
seek offers in excess of £1,875,000 reflecting an initial yield of 7%.
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