£2.6M PAID FOR TSB BANK IN WINCHESTER
A prime freehold bank investment in Winchester’s pedestrianised high street has sold for £2.6m, reflecting a net initial yield of 4.67%.
The period property totals 3,000 sq ft and is entirely let to TSB Bank on a new 10-year lease with around 9.25 years’ unexpired and a five-year, upwards-only rent review in 2022.
It sits close to The Brooks Shopping Centre and the new Travelodge under construction.
HRH Retail and GCW jointly advised the vendor, UK Estates. The purchaser was a private investor.