A high street freezer shop has changed hands for £432,500. The London-based private investor buying the unit can expect a net initial yield of 8.6% from Farmfoods in Arbroath High Street.
The 3,000 sq ft shop sits at 183-187 High Street on the main pedestrianised section and is let in ito Farmfoods until March 2029 at a passing rent of £38,700 a year. Farmfoods has occupied the property for over 25 years and recently completed a lease extension.
Derek Archer, investment associate at selling agent Ryden, said: "Despite the current challenges within the retail sector, selective opportunities are throwing up excellent value. With 9.5 years to a 5A1 covenant, similar income streams in other sectors are not generating such attractive returns."
Ryden represented the purchaser while Mason Owen and Crichton Property Consultancy acted on behalf of a private seller.
