DTZ Investors acquires House of Fraser in Exeter
DTZ Investors has successfully acquired 32-35 High Street, Exeter for £9.15m, reflecting a 5.0% net initial yield.
The property, which occupies a prime city centre trading location, comprises a c.56,000 sq ft purpose built department store. The asset is let to House of Fraser in its entirety until 2038. Nearby retailers include Marks & Spencer, Tesco and Urban Outfitters.
The acquisition has enabled the Client to gain exposure to a prominent freehold interest in a strong retailing core.
CWM acted on behalf of DTZ Investors