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Friday, June 21, 2024
PropertyAltrincham retail investment sold

Altrincham retail investment sold

The retail investment at 43 Stamford New Road, Altrincham has been sold by Regional Property Solutions on behalf of Mansion House Group to a private pension fund for £243,000.

This town centre retail property comprising 1,200 sq ft on ground and basement is let, to Homme Cheshire trading as the upmarket Hanson Barber Shop, on a 10 year lease from November 2017 at a rental of £17,000 per annum, reflecting a net initial yield of 6.8%.

Daniel Lee, director, Regional Property Solutions, said: “Stamford New Road has become an increasingly favoured location particularly with independent retailers and opportunities to acquire investments with quality tenants are rare at present. This was reflected in how quickly this investment was sold off-market”.

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