Freehold of Wiltshire convenience store building sold through Vail Williams
The freehold of a building occupied by a Tesco Express in Trowbridge, Wiltshire has been sold for just over £700,000 by property consultant Vail Williams.
The sale was made on the property in Eastbourne road on behalf of a retained private client.
Russell Miller, Vail Williams' regional managing partner for the south coast, said: "The sale of the building to a private investor, for just over £700,000, reflects a net initial yield of 5.75%.
"Our specialist lease advisory team also renewed a long-term lease, providing the new owner with peace of mind regarding rental income," he added.
Miller noted that well-situated convenience stores continued to attract interest - particularly where there were longer leases providing relative income certainty.
"According to industry figures, the UK convenience store market was worth just over £53 billion last year and is expected to increase by a further £5 billion by 2027," he added.
Rent details were not disclosed.
