A prime freehold shop investment in Rickmansworth, Hertfordshire, has been sold for £875,000, reflecting a net initial yield of 6.17%.

The three-storey, Grade II listed building at 74 High Street is let to WHSmith on a 15-year lease with just under seven years unexpired. A reversionary lease was agreed in 2018 with a further rent review due in 2023.

Located in a busy trading pitch with very few vacancies, the property also benefits from the potential for residential conversion of its two upper floors.

HRH Retail and Orbit Property Management jointly advised the vendor, a private investor. The purchaser was unrepresented.