MSPC purchase Barclays Bank freehold investment in Ilkley on behalf of Replay Associates

Mon, 01/21/2013 - 12:10 -- mspcadmin

Malcolm Stuart Property Consultants LLP purchased the freehold investment on behalf of Replay Associates at a transactions price of £950,000, reflecting a net initial yield of 6.3%. Barclays Currently pay £63,250 per annum with a lease renewal outstanding on which MSPC are also acting. Senior Partner, Malcolm Stuart gave his thoughts on the acquisition:- “Ilkley by and large has remained extremely strong in terms of rental levels and is one of a very select number of Yorkshire locations that has seen rental increases. We would be hopeful of a rental increase on lease renewal here which obviously provides increased value on reversion”