Challenge
Eddisons were instructed by Cambridge City Council to dispose of an investment property on Newmarket Road, Cambridge.
The property, an established dental practice, was let at a passing rent of £45,000 per annum on an existing 16 year lease, with rent reviews every 5 years.
Solution
Following a successful marketing campaign, the property received multiple bids, with the final sale 20% above the asking price.
Results
The property was purchased in June 2021 with a net initial yield of 5.77%.
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