PRIME SHOP PREMISES IN SLEAFORD ATTRACT INVESTORS
Retail property in Lincolnshire still has the power to attract savvy investors.
Banks Long & Co today revealed it has acquired prime shop premises - Numbers 38-40 Southgate in Sleaford – for retained client London-based Oakdeane Property Investments Limited.
Banks Long & Co Managing Director Tim Bradford said the purchase of the premises, which are currently let to the British Heart Foundation, acts as a rare example of positivity in a troubled retail market.
This investment is also important because it shows confidence in Sleaford as a sustainable shopping and business destination.
Banks Long & Co Managing Director Tim Bradford said: “It is easy to reject all retail investments at the moment. However, pricing on shop investments has adjusted and we consider that certain retail assets provide excellent value for our stable of investors.
“This shop enjoys a prime corner location and, with its ideal dimensions and sales area of 1,380 sq ft, it would attract occupier interest even in these challenging times.
“Sleaford is expanding. Our client took the view that the British Heart Foundation is a secure tenant and has a long lease, at a rent which is in line with 2019 rental values. The credentials all stack-up and Oakdeane is delighted to have placed some of its funds in this location in the town,” added Mr Bradford.