GCW generated 14 competitive offers in its first investment sale for M&G. GCW sold the NatWest Bank with less than three years term certain at 36 Fitzroy Street in Cambridge for £1.68 million reflecting a net initial yield of 5.63%. The sales price was ahead of valuation reflecting the huge private investor demand for the best towns in the UK. The property is located outside of Cambridge’s core retailing opposite the Grafton Shopping Centre.
GCW created a similar level of competitive bidding for its sale of a corner property on Tunbridge Wells’ Mount Pleasant Road for Marchmont Investment Management. The sale attracted six competing bids and was concluded for £3.775 million reflected a net initial yield of 5.07%.
The property, in an affluent spa town, was on a prominent corner position overlooking the town’s shopping centre entrance and main fashion pitch.
“The combination of detailed investment market knowledge, occupational expertise and professional approach makes GCW an obvious choice for advice in the retail sector” says Tim Lumsdon of Marchmont Investment Management.