We are delighted to announce the completion of a freehold investment purchase on behalf of a private client in Barnstaple for £2.325m.
Our ever-expanding Investment Department continues to go from strength to strength, purchasing a fantastic commercial office investment in Barnstaple. The property set in this beautiful North Devon market town has a 10-year reversionary lease with the First Secretary of State which begins from 2nd April 2018 and is a freehold investment. Government rented buildings are always a massive bonus for investment clients as they can be certain that the tenant will always be able to pay the rent due.
In addition, this property has the potential to be converted to residential use with the necessary planning consent in the future. This means that in the long-term our client will have the option of changing the nature of their investment to potentially increase their profit margins. With parking at a premium in most locations, this property boasts 25 parking spaces which is a major boon to any investor, increasing the potential rental value of the property.
This freehold property is 25,427 square feet and was purchased on behalf of our client for £2.325m. It offers our client a considerable return on their long-term investment with an estimated 9.38% reversionary yield after the settlement of the April 2023 rent review. This is the perfect long-term investment and we are delighted we could facilitate this deal for our client.
With all the benefits which this purchase provides, it is the ideal asset for our clients. In addition, it also demonstrates Robert Irving Burns’ willingness to locate and pursue the property with the best investment potential for our clients regardless of where in the country it is located. We look forward to completing more investment deals for high net worth individuals and companies in the future as our very experienced Investment Department continues to grow and thrive.
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