Private investor acquires Worcestershire mixed-use investment

A private investor has bought the freehold of a mixed use investment property in Upton upon Severn, Worcestershire.

Acting on behalf of a private client, Mike Pritchard, commercial negotiator at GJS Dillon, sold 6 Old Street, a mixed use commercial and residential investment property for £245,000, at a net initial yield of just under 10%.

The ground floor is let to an established opticians on a new 10 year lease, with additional income from the flats on the first floor, by way of ground rent income, and second floor, by way of an AST agreement.

“We originally put this property to auction, but such was the interest that it sold beforehand.  This is a good, prominently located, income producing investment.  With interest rates still low, demand from investors for this type of freehold investment property remains high,” said Pritchard.