Pension fund buys Nottingham Halfords Autocentre

Two Nottingham property agents have brokered a deal to sell a city unit occupied by Halfords Autocentre.

FHP Property Consultants acted on behalf of the vendor of 45 Nuthall Road with Box Property acting on behalf of the Willow Tree Pension Fund.

Chris Proctor of FHP said: “After a competitive marketing period we were able to agree a purchase price with Ben of Box Property for their client at a Net Initial Yield of 5.9% after purchasers costs at 4.4%. Investment opportunities of this size and nature continue to be sought after with a number of investors still in the market for similar opportunities”

Ben Tebutt of Box Property said: “I’m very happy to have secured this property on behalf of Willow Tree Pension Fund. It’s a very prominent location let to a strong tenant but with ultimate redevelopment options if it ever became vacant.”

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