SEASIDE CONVENIENCE STORE SELLS FOR £1.6M
Charleston Local Centre, a freehold convenience store investment just outside Weymouth, sold in an off-market deal for £1.625m, reflecting a net initial yield of 5.58%.
The centre, on the main road between Weymouth and Lyme Regis, was sold by Foundation Property Capital to Cannon Asset Management.
Foundation developed the centre which completed in October 2017. Totalling 6,000 sq ft, it is let to Co-op and Papa John’s, with just under 15 years left on the lease.
HRH Retail represented the vendor.