High Street asset acquired in Exeter
DTZ Investors has completed on the acquisition of 235-240 High Street, Exeter for £11,375,000, reflecting a 4.80% net initial yield.
The property occupies a prime trading location opposite the Princesshay Shopping Centre. The asset comprises five retail units at ground floor and six office suites arranged over the upper parts. The retail units are let to Office, Jessops, Saltrock Surfwear, Jones the Bootmaker and Virgin Media with an unexpired lease term of 5.32 years.
Allsop acted on behalf of DTZ Investors and JLL represented the vendor.