CBRE Global Investors has bought 47-50 Fore Street in Taunton, Somerset from DTZIM for £2.9 million. The purchase price reflects an initial yield of 6.50 per cent allowing for the usual purchase costs.
The prime freehold retail store comprises approximately 17,500 sq ft in total over ground and first floors. The property is leased to WH Smiths on a recently regeared ten year term at a rent of £200,000 per annum.
DTZ represented DTZIM and HPfour acted on behalf of CBRE Global Investors.
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