COSTA INVESTMENT SELLS FOR £651,000
A valuable reversionary retail investment in Whitby, North Yorkshire, has sold for £651,000, reflecting a net initial yield of 6.2%
Located in the main pedestrianised thoroughfare of Baxtergate, the unit is let to Costa Coffee on a 10-year lease with seven years unexpired. The passing rent is reversionary and subject to an upward-only rent review in September 2019. The property includes two self-contained flats on the upper floors.
HRH Retail acted for the private vendor.