Retail investment sales tell a different town centre tale
The recent sale to two retail properties on Huntingdon High Street reinforces the position that town centre bricks and mortar still retains appeal to property investors.
That’s the view of the Huntingdon office of Eddisons incorporating Barker Storey Matthews who, as the sole selling agent on each property, has confirmed the completion of the sales of 34 and 87/88 High Street to new owners while tenants in situ and trading on current lease terms.
The restaurant premises of 1,580 sq ft (146.8 sq m) at 34 High Street were offered for sale with a published guide price of £245,000.
The retail element of the 1,461 sq ft (135.73 sq m) premises sold at 87 and 88 High Street is occupied by a florist and has three single bedroom flats too. It was marketed for sale at £425,000.
While the prices achieved on sale remain confidential, the agent confirmed that that the properties’ new owners will achieve net rental yields reflecting the current local – and national – retail market picture.
Speaking on behalf of Eddisons incorporating Barker Storey Matthews, Matthew Hunt of the Huntingdon office said, “Media headlines about high streets, understandably, focus on retailers’ operational difficulties in the present climate but property investors always look to the long term.
“There is movement in the retail investment market and as retail operators focus their attention on the immediate and also post-pandemic trading conditions, it’s a boost for Huntingdon to know that the right premises in the right location still offer returns as an attractive investment.”
For more information on retail property opportunities in the Huntingdon area, contact Matthew Hunt at the local office of Eddisons incorporating Barker Storey Matthews, tel 01480 451578 or see eddisons.com/barker-storey-matthews.