Gerry Weber, 77-79 High Street, Solihull
Franck Steier Price has recently completed the sale of a prime retail unit on behalf of CBRE Global Investors.
The property is located in the 100% prime pitch of High Street, Solihull. The property comprises a retail unit on ground floor with two upper floors of ancillary accommodation. The total floor area is 3,114 sq.ft with an ITZA of 851 units.
The property is let to Gerry Weber UK Ltd, guaranteed by Gerry Weber International AG for a term expiring in April 2021. The current rent is £140,000 per annum.
The purchase price of £2,130,000 reflected a net initial yield of 6.21% after purchaser’s costs of 5.80%.
The purchaser was a private investor represented by Rowley Hughes Thompson.