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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