Investor snaps up home of Jack Wills

A private investor has snapped up the Beverley home of national clothing retailer Jack Wills in a £1.4m deal.

Manchester-based commercial investment property advisor Carrick Real Estate completed the off-market acquisition of the retail unit from a JV of London & Lothian and Cosmic Securities, in a deal worth £1.372m, reflecting a net initial yield of 5.5%.

59 Saturday Market, a Grade II listed building, occupies a prominent position on the western side of the market.

It is let to Jack Wills on a new 10-year lease at a rental income of £80,000 a year.

In recent years, Beverley has attracted a number of aspirational niche retailers to the town, including JoJo Maman Bebe, Seasalt, Crew, Joules and Hotel Chocolat.

A spokesperson from Carrick said: “We are witnessing robust investor demand for single-let retail investments with good covenants in strong market towns and this acquisition certainly underlines that trend. Beverley boasts an impressive retail offer.”

Reid Rose Gregory acted for London & Lothian and Cosmic Securities.

Carrick Real Estate acted on behalf of the private investor.

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