Property overview

High Green Court, Cannock, WS11 1GR

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Feb 2013

Atlas Real Estate has recently completed the acquisition of a retail, leisure, office and residential estate on behalf of Cannock Assets Ltd, managed by David Samuel Properties.

The property comprises 60 units in total and a 77 space car park.  The commercial element totals approximately 91,000 sq.ft and the residential comprises 16 apartments.

The property is let to 53 tenants with 3 units vacant and 2 under offer.  The total income is £975,333 per annum.

The property was purchased for £6,350,000 reflecting a net initial yield of 14.52%, after costs of purchase of 5.80%.  Savills represented the vendor Pritchard Developments.