CB Richard Ellis Investors, the global real estate investment management firm, has completed the purchase of 1-5 Queens Walk, East Grinstead, West Sussex. The property was bought from Helical Bar for £5.95m which shows an attractive net initial yield of 6.5%.
The majority of the property is let to Sainsbury's with 15 years unexpired at a rent of £411,000 pa. The property has been split to provide six shops, which are sublet to retailers including Argos, Peacocks, Iceland and New Look.
GCW acted for CBRE Investros.