22. Februar 2012 
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Sutton Coldfield Municipal Charities acquires two Worcestershire properties
Sutton Coldfield Municipal Charities (SCMC) has acquired the freehold interest in two Worcestershire properties, totalling £2.4million.
In the first of the deals, SCMC purchased 96 High Street in Worcester for £1.34million. The 2,313 sq ft retail property is located in the city’s prime shopping street and is currently let to clothing retailer, Fat Face which has 12 and a half years unexpired on its lease. The purchase price reflects a net initial yield of 5.72%.
SCMC has also purchased Units 1 and 2, Marlpool Lane in Kidderminster for £1.06million, reflecting a net initial yield of 6.88%. The 5,202 sq ft former public house has recently been converted into a convenience store which is let to AF Blakemore, trading as Spar, for 20 years, a vet’s surgery and a first floor flat.
The Birmingham office of DTZ acted on behalf of SCMC. FSP acted on behalf of the vendor on both sales, with Sampson Moore the joint agent on the Worcester sale.
In the first of the deals, SCMC purchased 96 High Street in Worcester for £1.34million. The 2,313 sq ft retail property is located in the city’s prime shopping street and is currently let to clothing retailer, Fat Face which has 12 and a half years unexpired on its lease. The purchase price reflects a net initial yield of 5.72%.
SCMC has also purchased Units 1 and 2, Marlpool Lane in Kidderminster for £1.06million, reflecting a net initial yield of 6.88%. The 5,202 sq ft former public house has recently been converted into a convenience store which is let to AF Blakemore, trading as Spar, for 20 years, a vet’s surgery and a first floor flat.
The Birmingham office of DTZ acted on behalf of SCMC. FSP acted on behalf of the vendor on both sales, with Sampson Moore the joint agent on the Worcester sale.
