Private clients, represented by Savills, have acquired 1/1A East Street, Taunton in Somerset from Provincial Real Estate Taunton Limited for £1.55 million reflecting a net initial yield of 6.75 per cent.
The freehold 5,835 sq ft (542 sq m) property is let to Caversham Finance Limited trading as Brighthouse on a lease expiring April 2022. The annual rental income is £110,000.
Andrew Main, head of Savills Bristol, said: “This was a timely opportunity for our client to secure a well let property in a prime location. Taunton remains a popular destination within the South West and there is good confidence in its retail potential.”
BrightHouse is the nation's leading rent-to-own retailer. Providing top brand household goods on low weekly, fortnightly or monthly payments and quick and simple credit. With over 250 stores, it serves over 200,000 customers across the UK.
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