INVESTORS OFF TO THE RACES

Osmond Brookes, acting on behalf of RS Morgan and RA Barnett of GVA Grimley Ltd, LPA Receivers, have sold the freehold investment of 4 St Johns Centre, Upper Northam Road, Hedge End, Southampton SO30 4QU, for £226,000.

The modern ground floor shop property of 759 sq ft is let to Coral Racing Ltd as a bookmakers office on a FRI lease expiring in October 2011 at a passing rent of £17000 pa.

The price reflects a net yield of 7.4% and the purchaser, Company Analysis Ltd, were represented by London Clancy.

Osmond Brookes, Jeremy Braybrooke, comments –

“Despite the short lease term, there was considerable interest in this investment. We ended up going to best offers and there were a number of similar bids at this level.”

For further details please contact Jeremy Braybrooke, Osmond Brookes 023 8000 2020,

Email: jeremy.braybrooke@osmondbrookes.co.uk