Dunmoore are delighted to announce the acquisition of Hermitage Lane, a multi let trade counter estate in Mansfield.
The prominent two terraced estate, which measures 23,750 sq ft, has been purchased for £1.54 million and equates to a net initial yield of 6.2%.
Managing Director Jeff Hobby commented “ We are delighted to have completed the purchase of Hermitage Lane, an estate we feel fits very well into our growing trade counter portfolio, and in a market presenting very few value add opportunities. The estate already benefits from a strong tenant profile, including Howdens, Eyre & Ellison & Unipart, as well as being in close proximity to a number of other national occupiers. We will be undertaking a full refurbishment of the estate and look to create a product which will compete with the top trade locations in the area.”
Whitmarsh Holt Young acted on behalf of Dunmoore with Fletcher King acting on behalf of the seller.