DTZ Investors disposes of high street asset in Bath city centre
DTZ Investors has completed the disposal of 7-8 Stall Street, Bath for £1.7m reflecting a net initial yield of 8.7% after deduction of head rent. Acuitus auctioneers represented DTZ Investors.
The attractive Grade II listed building sits yards from the iconic Roman Baths and totals approximately 8,500 sq ft. The property is fully-let and is comprised of a double-fronted retail unit, let to Schuh, with two three-bed flats above. It is held under a geared leasehold title to Bath and North East Somerset Council with 83 years unexpired.
Ben Haller, Director at DTZ Investors, comments: “We are delighted to have sold this non-core asset within the Fund. The granular lot size, short leasehold term and ongoing market uncertainty made auction a compelling route for sale with its reduced transactional risk compared to private treaty. We’d like to thank the Acuitus team for their support and wish the private investor well with their new holding”.