The Co-operative Group has sold a retail investment let to Poundstetcher located in the heart of the historic town of Chard, in Somerset, for £895,000. The sale reflects a yield of 9.00%
The investment comprises a large site upon which there is a Poundstretcher store, a Local Authority run car park and a potential development plot.
The store, which totals 16,100 sq ft, is let to Poundstretcher on a 10 year lease from November 2017 at an annual rent of £85,000 per annum. The tenant have an option to break after five years.
Hartnell Taylor Cook advised The Co-operative Group on the disposal which was purchased by a Nimrod Property Investments.