Tellon Capital, advised by SHW, has sold 17 High Street, Uckfield, East Sussex, TN22 1AG to a private property company for £695,000, reflecting a net initial yield of 7.52%
The 5,059 sq ft retail unit, situated in a prime high street location opposite Waitrose, is let to WH Smith Retail Holding Ltd, trading as British Bookshops, with 5.5 years remaining on the lease, at a rent of £55,000 per annum.
Martin Clark, Partner at SHW, comments: “Let with a strong covenant, this retail investment in the affluent town of Uckfield offers potential for development by utilising the air space above, creating four or more large residential units with private and communal roof top gardens. Through our network of contacts, we were able to generate a great deal of interest in the property and achieve the asking price.”