AcquisitionLondon
Vauxhall Bridge Road, SW1
Acquisition of Retail Property, Pimlico, London
The virtual freehold interest in 166 Vauxhall Bridge Road, London, SW1V 2RB, has been acquired by private Spanish investors advised by Nightingale Partners.
The purchase price of £1,875,000 represented a net initial yield of 5.80%.
The property forms the ground and lower ground floors of a larger corner building, comprising 1,926 sq ft of A2 retail accommodation let to Foxtons Limited on a full repairing and insuring lease for a term of 20 years from 9th January 2012 expiring on 8th January 2032. The current rent is £115,000 per annum.
The purchasers were represented by Nightingale Partners.
