Latest News

Mixed city centre site in Ramsgate

6 March, 2007

Deanfold Properties Ltd has sold The Argyle Centre, a freehold retail and office investment located in the centre of Ramsgate to the Berger Group for £6.75m.

The property which is strategically located between the town centre’s main car park and the prime shopping of King Street presents a medium term opportunity for redevelopment. It comprises a former Tesco store, which is now let to Wilkinsons, seven retail units and offices above totalling 25,000 sq ft. The site extends to just under an acre with over 65,000 sq ft on it.

The investment generates an annual rental income of £420,000 and the sale represents a net initial yield of 5.9%.

Hartnell Taylor Cook LLP’s London office advised the vendors, Deanfold Properties Ltd.